OMGI's Richard Buxton set to announce £550m buyout

Backing from TA Associates

Natalie Kenway
clock • 2 min read

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

  • 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 Companies

Third Financial's 'laser-like' focus following Nucleus acquisition

Third Financial's 'laser-like' focus following Nucleus acquisition

‘Adviser platforms are more nuanced than just outsourced versus in-house’

Isabel Baxter
clock 26 March 2024 • 3 min read
Fairstone makes first advice firm buy of 2024 adding £110m in assets

Fairstone makes first advice firm buy of 2024 adding £110m in assets

Consolidator acquires Nottingham-based James Ryan Thornhill

Isabel Baxter
clock 26 March 2024 • 1 min read
Advice network focuses on paraplanning support with double acquisition

Advice network focuses on paraplanning support with double acquisition

In Partnership buys two paraplanning and administration support providers

Isabel Baxter
clock 25 March 2024 • 1 min read