Peter Davies said: "This deal means we will be able to offer our clients a broader range of specialist legal services and we will continue to provide the same quality service to our clients, from the local teams that they know and trust." It will also allow them to build on the established position that Davey Law has developed in the communities of both Gloucester and Cirencester to date.Īs part of the acquisition Davies, Mills and Brady join Redkite Solicitors as consultants, while Harris joins as a partner. The acquisition will also bring extra investment in IT systems, designed to enable the Gloucester and Cirencester offices – both of which will remain open, to provide improved client service. The firm, which opened its office in Gloucester in 2001, will now be able to offer increased specialism in its broad range of client services due to its incorporation into the Redkite group. It has been led as Davey Law by directors Peter Davies, Christopher Mills, Michael Brady and Stephen Harris since its incorporation in 2011 With offices already in Stroud, Dursley, Stonehouse and Ledbury the deal further strengthens Redkite Solicitors' presence in Gloucestershire and the South West of England and marks a significant development in the company's growth.ĭavey Law has a long history and strong community presence in and around Gloucestershire, first opening as Davey Son & Jones in Circencester in 1946. It takes the firms turnover to an estimated £16m as a result of the latest purchase. With offices in Gloucester and Cirencester, the acquisition of Davey Law creates a combined business with 16 offices and 242 staff. Redkite Solicitors has acquired Gloucestershire based Davey Law as part of its growth strategy. Orion now reportedly manages about $7.8 billion – around twice as much as Red Kite managed at its peak in the early 2010s.A legal firm with operations in Wales and South West England has strengthened its offering with the acquisition of a counterpart. Some of the old guard are back in business though, with different companies, including metals veteran and Red Kite co-founder David Lilley whose new firm, Drakewood Capital Management, has closed its fund to new investors with assets above $1 billion and is working on a new fund that will include physical metals investments.Īnother Red Kite alumnus Oskar Lewnowski’s Orion Commodities Fund LP, part of his wider Orion Group, has also seen new investment, with $1.6 billion under management at the end of October. Quantix’s Commodities Alpha Fund with $1.7 billion and Pimco’s Commodity Alpha Fund with more than $2 billion, are two of the new breed which have attracted significant funds, while teh report cites unnamed sources as also identifying East Alpha and Star Capital as major players. The new breed of manager attracting investor interest are technically focused quant traders rather than the high profile, 'big beasts' who once dominated the space. Some new players in the space have already closed to new investors, while big macro firms are on the look out for top talent as they boost their commodities teams. The report cites preliminary data from Bridge Alternative Investments as revealing that the top 15 commodity-focused hedge funds have increased their assets by 50% this year to a combined $20.7 billion.
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