Ignis confirms Argonaut split
Ignis confirms that Argonaut will become operationally independent from the firm.
Argonaut Capital Partners will take management control, owning 60 per cent under the new structure with Ignis reducing its equity stake from 50 per
cent to 40 per cent.
The European equity specialist boutique was founded six years ago in 2005 and currently has £1.1 billion of funds under management.
Argonaut will expand its investment team and management resource and develop its own UK distribution capability. Ignis will continue to distribute Argonaut’s funds in Continental Europe.
Argonaut will be announcing the appointment of a chief operating officer in the next month who will oversee the transition and manage the day-to-day
operational functions. The transition will be implemented over the course of the next 12 months.
Argonaut Capital Partners partner Barry Norris says: “We believe that this evolution of our business model from a joint venture to an independent
entity is appropriate to Argonaut’s current stage of development. We look forward to making further announcements in due course.”
Ignis Asset Management chief executive Chris Samuel says: “It is very much a part of our strategy to incubate our current joint ventures and then to transition them to an independent model when they reach an appropriate stage so as to best support their development and the services we provide to investors.”
Argonaut Capital Partners partner Olly Russ (pictured) says: “Barry and I intend to develop Argonaut’s capabilities within our core European equity franchise, which we believe will be good for our investors. We are delighted that we will continue to be supported by Ignis, who have contributed greatly to the development of the business in its joint venture stage and that they will remain a significant and committed shareholder as we become an independent Argonaut.”