James Hay parent turns down buyout

clock

IFG Group, the parent company of SIPP provider James Hay Partnership, has ended takeover talks with private equity firm Bregal Capital.

The company was initially approached in May by one of two at that time unnamed companies, who made unsolicited bids. In June, IFG Group announced it had invited both companies to undertake confirmatory due diligence on potential buy out deals. The firm then announced in August it was in exclusive talks with Bregal Capital. But today, IFG announced these talks have been discontinued due to "the current dislocation in the global markets". IFG is currently not in takeover talks with any other parties, it confirmed. The company owns James Hay Partnership, one of the largest SIPP ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •