Richard Buxton, chief executive of Old Mutual Global Investors, is set to announce he is ready to complete a £550m buyout of the single-strategy business from parent firm Old Mutual Wealth, with the backing of former Jupiter owner TA Associates
According to Sky News, Buxton is on the brink of a deal to buyout the £25bn single-strategy business, which includes the £2.3bn UK Alpha fund he runs, as the parent firm continues its 'managed separation'. It was previously reported two Australian financial giants Challenger and Macquarie Investment Management were in a bidding war for the business but Sky sources have now said private equity firm TA Associates, a previous shareholder of Jupiter, will be named backer. The announcement is likely to be made in the coming days. The sale of OMGI is part of a managed separation of the busi...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
