Jupiter in advanced talks to buy Merian Global Investors

(Reuters) - Britain's Jupiter Fund Management <JUP.L> confirmed on Saturday that it is in advanced talks to buy asset manager Merian Global Investors from private equity firm TA Associates.

"The board of Jupiter sees this as an attractive opportunity to acquire a high quality independent active manager that would represent a strong fit with Jupiter in both investment management philosophy and culture," the company said in a statement http://bit.ly/2uFmUX3, adding that the talks are still ongoing.

The talks, which Jupiter said have been underway for "some time," come less than two years after Merian was created through a private equity-backed buyout from Anglo-South African financial services company Old Mutual in June 2018.

Merian, which like other active asset managers has faced pressure to lower costs as more investors opt for cheaper, index-tracking funds, had in December revealed plans to restructure its business and cut jobs.

Bloomberg had first reported on the negotiations between Jupiter and Merian.

(Reporting by Akshay Balan in Bengaluru, Editing by Rosalba O'Brien)