Commerzbank sells Jupiter for £740m

Senior management, led by joint chief executive Edward Bonham Carter, will complete a management buyout of the firm by July. Bonham Carter said Jupiter’s senior management had committed ‘significant personal assets’ to install them as joint owners of the business with the US private equity and buyout specialist. Employees will also hold equity in the business, he said. While the details of the deal and terms agreed with fund managers have not been disclosed, most commentators believe the deal is positive as it is likely to lock in Jupiter’s key managers such as John Chatfeild-Robe...