Clive Cowdery's investment vehicle Resolution is setting its sights on the insurance sector for its first acquisition, armed with a £6bn war chest.
The Pearl Group, owner of Ignis and a number of insurance brands, has announced plans to raise £500m from investors before floating on the London Stock Exchange.
Clive Cowdery's new £660m investment vehicle Resolution Limited has targeted Prudential's UK insurance business as its first potential acquisition, according to a weekend report.
Resolution Ltd is set to float with the maximum £660m backing from investors after Citi exercised in full an over-allotment option entitling it to an extra £60m worth of ordinary shares.
Clive Cowdery will float Resolution Limited with £660m backing from investors, it has been confirmed.
Clive Cowdery is set to float his new Resolution Limited vehicle next week with up to £600m backing from investors.
Resolution founder Clive Cowdery is reportedly interested in a bid for HBOS' insurance arm Clerical Medical.
Resolution Asset Management has appointed Neil Richardson to the newly-created position of deputy head of UK equities.
Russia's proposal to use its £32bn national wealth fund to boost the country's financial markets is an ‘overdue' and ‘wise' use of money, according to Hexam Capital Partners.
Resolution has appointed former FSA chief executive John Tiner as CEO as it plans to launch a quoted company focused on M&A in the financial services sector.