UK – Glasgow-based Britannic Asset Management (BAM) is to buy Blairlogie Capital Management from its current owner ABN AMRO Asset Management for an undisclosed sum.

As part of the buy-out, Gavin Dobson, chief executive at Blairlogie will join BAM as head of its international institutional, while James Smith, CIO at Blairlogie will take up a senior investment management role at Britannic.

The purchase adds some $800m to Britannic’s assets under management and is expected to complete in early November.

Leslie McIntosh, chief executive of BAM, comments: “We have indicated for some time that we would be interested in expanding overseas either through joint ventures or acquisitions and Blairlogie is a neat bolt on to our existing activity. It gives us a strategic entry point into the US and international institutional markets complementing our established presence in the UK institutional market.”