Ninety One set to absorb UK asset management unit of Patrice Motsepe’s backed Sanlam

Key Points

• Ninety One will issue 13.68 million shares to acquire Sanlam Investments UK, boosting its assets under management by $22.1 billion and expanding its global footprint.
• The transaction marks a critical milestone in the broader partnership between Sanlam and Ninety One to consolidate active asset management across global markets.
• Patrice Motsepe-backed Sanlam strengthens its asset management scale through this deal, aligning with Ninety One to optimize distribution and client outcomes globally.

Ninety One plc, the London-listed independent asset manager with secondary listing on the Johannesburg Stock Exchange (JSE), is finalizing the acquisition of Sanlam Investments UK Limited’s active asset management business on June 16, 2025, as it anticipates immediate earnings and dividend accretion. 

The share-based transaction marks a key milestone in the broader strategic partnership between Ninety One and Sanlam, Africa’s largest insurer, which counts South African billionaire Patrice Motsepe, as its deputy chair, and among its shareholders

Ninety One to issue 13.68 million shares in Sanlam UK deal

Ninety One plc will issue 13,675,595 ordinary shares to Sanlam on June 16 as part of a share-based transaction that transfers Sanlam’s UK asset management business to Ninety One UK Limited. The deal, announced in November 2024, is part of a broader alliance between the two firms to consolidate active asset management operations across key markets.

The transaction adds R400 billion ($22.1 billion) to Ninety One’s assets under management and strengthens its role within Sanlam’s global investment strategy. The new shares will represent a 12.3 percent stake in Ninety One’s UK business. Applications have been filed for dual listing on the London and Johannesburg stock exchanges, with trading expected to begin on June 17.

The partnership aims to combine Ninety One’s investment expertise with Sanlam’s distribution network to improve operational scale and client outcomes.

Broader global consolidation strategy

The UK transfer forms part of a broader collaboration between Ninety One, Sanlam Limited, and Sanlam Life Insurance Limited to streamline and scale their investment management businesses. Similar transactions in other jurisdictions are expected to follow.

Formed through a 2020 demerger from Investec, Ninety One manages over $150 billion in client assets across emerging and developed markets. The Sanlam partnership aligns with its strategy of growing via institutional alliances while broadening distribution.

Motsepe’s influence on Sanlam’s growth

Patrice Motsepe, Africa’s first Black billionaire, holds a 7.8 percent indirect stake in Sanlam through Ubuntu-Botho Investments and serves as the firm’s vice chairman. His influence has been central to Sanlam’s drive to expand its footprint across Africa and beyond.

The deal highlights the continuing consolidation in global financial services as African and global players seek scale, operational efficiency, and stronger investment outcomes for clients. For Sanlam, the partnership with Ninety One is a key pillar in its global asset management ambitions.