A financial services group based in the Isle of Man is set to swell following the acquisition of a boutique investment firm.

Capital International has added another name to the list of companies under its umbrella after striking a deal with Jersey-based Martello Asset Management Limited.

According to Capital bosses, the ‘strategic acquisition’ will allow the group to extend the jurisdictional footprint of its companies beyond their current locations in the Isle of Man and South Africa.

Capital’s Head of Investment Management Antony Kelsey, who has been leading the transaction, said: ‘We are thrilled to welcome Martello into the Capital International Group family.

‘This acquisition represents a significant milestone in our growth journey.

‘By combining our respective service offerings, we are well-positioned to expand the distribution of the Martello Global Equity Fund, and the wider Martello proposition into Capital International Group’s extensive relationships with intermediaries and advisers.

‘Martello has built a strong reputation for delivering exceptional investment management services and maintaining robust, good quality client relationships.

‘The performance track record of the Martello Global Equity Fund speaks for itself and we are looking forward to working with the Martello team to distribute it more widely through the Capital International Group.

‘The seamless integration of both companies will ensure continuity of service and a smooth transition for all clients and employees.’

Founded in 1996, Capital International Group, which is headquartered in Douglas, provides investment management and corporate banking services to clients based in more than 100 countries.

Since then, the group’s investment arm has expanded to manage over $4.5bn in client assets.

Confirmation of Capital’s acquisition of Martello, which has its headquarters in St Helier, is subject to regulatory consent in Jersey.

Director of Martello Gary Hill said: ‘We are excited about the opportunities this acquisition brings.

‘Joining forces with the Capital International Group will enable us to leverage their extensive resources and expertise, ultimately benefiting our clients with enhanced investment options and services.

‘We have been impressed with the Capital International team throughout our negotiations and we are confident that our team of professional employees and our clients will be well looked after in the future.

‘The team will now engage closely with the necessary authorities to ensure the transaction receives all regulatory approvals as soon as possible.’

Anthony Long, Capital International Group’s Chairman, said: ‘We have been keen to establish a strategic link with Jersey because of the strong investment management industry and community and so we are delighted that we have found Martello to help make a presence in Jersey a reality.

‘The company’s African client base is also a great fit for us as we have more than 40 members of staff across Cape Town, Johannesburg, and Durban who are well placed to support and strengthen the relationships Martello have built.’