Brown Advisory snaps up Marylebone Partners following summer talks

This follows advanced talks over the summer between the two parties in a bid to expand Brown's US offering. The deal is subject to regulatory approval. Upon closing, Majedie will gain a cash payment for its 7.5% stake in Marylebone. As a show of ongoing collaboration between the manager and the shareholders, fees will be reduced to 0.8% on market caps up to £150m, 0.675% between £150m and £250m and 0.6% on higher values, dropped from 0.95, 0.75% and 0.65% respectively. There will be no change to the mandate, investment approach or the team's decision-making autonomy, the firms reas...