Henderson offloads Hermes private equity stake

Henderson has disposed of a stake in Hermes GPE, a private equity fund of funds, which it acquired as part of the acquisition of Gartmore.

Hermes GPE was a joint venture between Gartmore and institutional asset manger, Hermes Fund Managers.

The sale came as Hermes exercised its right to purchase the whole of Gartmore’s interest in the joint venture.

Accordint to Henderson, the disposal for cash will not result in a gain or loss but reported assets under management will shrink by £1.4 billion.