K2 Asset Management (ASX:KAM) has been selected by E&P Investments Limited to take on the Responsible Entity role for six investment funds.

Upon a successful shareholder vote on June 19 and 27, K2's funds under management will increase by $1.68B, significantly impacting the company's revenue for the 2024 financial year.

Furthermore, the K2 board has begun searching for an independent non-executive director to join and enhance the company's independence and best practice.

Shares of K2 Asset Management Holdings hit $0.080 at 12:55pm AEST.