Ignis, formerly a subsidiary of life assurer Phoenix, employs about 360 people across offices in Glasgow and London and managed £59 billion of assets at the end of December.
SLI chief executive Keith Skeoch said: “The acquisition of Ignis is another step in SLI’s growth story, reinforcing our strong foundations, broadening our third-party client base and increasing the range of investment solutions we offer.”
Analysts at Bank of America Merrill Lynch said in April that the purchase of Ignis looked like a “shrewd acquisition” as Edinburgh-based SLI reported third-party of inflows of £2 billion for the first quarter, adding: “We believe that significant cost-saves are available as Ignis is integrated into SLI.”