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London-based fund manager Redwheel has called in bankers to run a potential sale process which could value the company at more than £150m, City AM can reveal.
Redwheel, which manages around $22bn for clients across four equity and bond strategies, has recently begun working with London-based advisers at BNP Paribas to review its options after receiving multiple unsolicited bids, sources told City AM.
Founded in London in 2000 and chaired by former Man Group CEO, Peter Clarke, Redwheel now employs around 152 people across offices in Miami, Singapore and Copenhagen. It posted profit of £46.5m in its latest set of accounts for 2024.
BNP declined to comment. Redwheel said it does not comment on market speculation.
The sale of Redwheel would be the latest in a wave of dealmaking across the asset management sector in recent years, as fund groups hunt for scale amid dwindling fees and the rise of cheaper passive investing strategies.
Under current CEO Tord Stallvik, Redwheel itself has been acquiring rivals, most recently buying sustainable fund manager Ecofin in 2024 in a move that added $1.4bn to its assets under management. Stallvik also poached a team from Newton in 2020.
Last year, some 243 wealth and asset management deals were struck across Europe, up from 223 the prior year, according to data from EY. Deal value fell from $20.9bn in 2024 to $18.5bn.
British and European asset and wealth managers have been subject to a deals offensive from foreign buyers in recent years. The number of non-European firms acquiring European targets rose from 107 in 2024 to 119 in 2025, while total deal value shot from $5.1bn in 2024 to $47.9bn in 2025.
This year, storied City funds group Schroders was bought by US investment firm Nuveen in a £9.9bn deal, Liontrust bought its smaller London-based rival River Global and Evelyn Partners was acquired by Natwest.