Aegon and Zurich have become minority shareholders of Seven Investment Management (7IM) as it becomes the first platform provider to gain LSE membership.
7IM, which currently manages and administers £2bn of assets, is now a separate corporate identity with its own FSA licence. The business, which offers discretionary management, multi-manager and its own wrap platform Tethys, has ambitious growth plans and as a result decided it would be appropriate to bring in two initial institutional shareholders. Zurich and AEGON will be the first such institutional shareholders to take minority stakes in 7IM since it launched in March 2002 through the purchase of the holding from original supporter Killik & Co. Tom Sheridan, chief executive 7IM...
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