Investment giant BlackRock has taken a 3.3 per cent stake in platform Nucleus following the business’ listing on AIM last week.
According to the platform’s admission document, vertically integrated firm Sanlam still holds a majority stake in Nucleus, maintaining the 52.2 per cent holding it had prior to admission.
Sanlam chief executive Jonathan Polin sits on the Nucleus board.
Nucleus IFA Company, the vehicle for adviser shareholders in Nucleus, has now been dissolved. A Nucleus spokesman says advisers have either kept their shares, sold down or sold their entire holdings.
Nucleus IFA Company held a 23.3 per cent stake in the business prior to it being admitted for trading on AIM.
At the time of the float, Nucleus chief executive David Ferguson said: “It’s great to see so many institutional investors believing in the growth potential of this objective and we look forward to collaborating with our users to further promote transparency and improve customer outcomes.”
Nucleus follows competitor Transact, which listed on the main market of the London Stock Exchange in March.
BlackRock has not responded to requests for comment.