OMW agrees £600m sale of single-strategy business to TA Associates

The deal, which is expected to complete on 1 January 2018, will see the majority of staff moving across, including OMGI chief executive Richard Buxton. TA Associates will pay £570m for OMGI before completion and a further £30m, which will be paid primarily between 2019 to 2021 as surplus capital associated with the separation from Old Mutual Wealth. Subject to regulatory approval, the firm said the majority of the current management will remain with the single-strategy business. Buxton, who runs the £2.3bn UK Alpha fund included in the sale, said: "The management team is delighted ...