Fund manager Appian Asset Management is to be acquired by UK-based alternative asset manager Gresham House.
The transaction values Appian at an estimated €10m, including performance-based earnouts over the coming three years.
The deal is still subject to approval by the Central Bank.
Appian was established in 2002 by CEO Patrick Lawless and its key shareholders include Patrick Lawless, Greg Lawless and Kevin Menton.
The firm has about €330m under management and operates a range of funds which invest globally across traditional and alternative asset classes including equities, property, infrastructure and forestry.
Gresham House has over €3.6 billion in assets under management, as at the end of June, and is quoted on the London Stock Exchange.
It is a specialist alternative asset management group dedicated to sustainable investments across a range of strategies with expertise across forestry, where it already has a significant position in Ireland.
It also has housing investments as well as investments in sustainable infrastructure, renewable energy and battery storage as well as public and private equity investment management.
After the deal is completed, Patrick Lawless will continue to lead the business in Ireland in the new role of Managing Director of Gresham House Ireland and will join the Board of Gresham House Asset Management.
The company will continue to offer all of its existing products and funds and will also seek to offer relevant products within Gresham House's range of investment products and services.
Patrick Lawless said the agreement announced today is a "transformational" deal for Appian and its staff.
"It will enable us to offer an increased range of market leading products to existing clients and to institutions and charities in Ireland. Gresham House is one of the leading asset managers on these islands and we look forward to joining their team," Mr Lawless said.
