Upon the successful completion of the transaction, the acquired asset management firm will be renamed as Prescient Investment Managers (Ireland).
The execution of the deal will enable Prescient to have assets under management in more than €16bn, said the asset manager.
Prescient Investment Managers manages funds for border client base, including pension, corporate, charity and private clients both in Ireland and overseas.
The company said that client assets will continue to be managed by the Dublin-based team, having access to the expertise of the Prescient Investment Management Team in South Africa.
As per the merger and acquisition agreement, Fiona Sweeney has been appointed CEO of the new entity.
