Boutique investment bank Dexion Capital has appointed its first-ever head of asset management as part of a determined move into the sector, after years spent providing advice to alternatives managers on how to raise capital, often by listing their funds.

Dexion has appointed Magnus Spence, former chief executive of boutique asset manager Dalton Strategic Partnership, to the position. His initial responsibilities will involve a farmland joint-venture struck with agricultural consultant Brown & Co in November with the aim of making the asset class more accessible, plus renewable energy projects with Resonance Asset Management, which has a distribution agreement with Dexion.