Norman Riddell & Associates and US boutique Cambridge International Partners helped SLC Asset Management to sell its UK business to Credit Suisse Asset Management, in the largest deal either of the two firms have advised on.

The transaction gives Credit Suisse £11bn (€17.5bn) in assets under management. Joseph Gallagher, chief executive of CSAM Europe, declined to comment on the price but deal sources said that it was around £250m. Earlier this summer analysts said that the business could fetch £350m, or around 3% of the assets under management.