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Commerzbank agrees to sell Jupiter to its management and TA Associates

Commerzbank has reached an agreement with Jupiter’s senior management over a management buyout of the firm, supported by private equity group TA Associates.

The deal, which is subject to regulatory approval, is due for completion by July 2007 and for a minimum sale price of 740m, netting the German owners a capital gain of approximately 300m Euros.

Jupiter’s joint group chief executive Edward Bonham Carter says: ” Partnering with TA Associates, who have considerable experience in the asset management
sector, now creates the right structure for the next stage of our growth.
Jupiter’s senior management has committed significant personal assets to
take joint ownership of the business with TA, with employees also
participating in equity ownership. This creates an unparalleled degree of
certainty for our clients during the coming years as we seek to extend our
share of existing, and new, markets.”

TA Associates managing director Michael A.R. Wilson says: “We have
known the Jupiter team for several years and have long admired the company
as one of the most successful fund management groups in the UK. This is TA’s
tenth investment in the global asset management sector and we are delighted
to be backing Edward and his team to build further value in Jupiter.”


Door shut on FTBs as prices soar

Today’s changes will do nothing to help first-time buyers to get on to the ladder as advancing house prices outstrip ann-ual pay awards and more people are caught by stamp duty.Brown had the chance to address FTB costs by raising the £125,000 entry band for stamp duty. He should also have altered the £250,000 and […]


The article and editorial concerning Sesame in Money Marketing last week interested me. I thought that the expression MBO stood for management buyout, whether partial or total, and that this implies that the management paying money to acquire the business. In the case of the Sesame deal, surely it should be styled MTA, standing for […]

Adviser Fund Index

The Adviser Fund Index panellists are bullish on the German economy, according to the second mid-season AFI questionnaire conducted in February. Seven of the 15 respondents predict that Germany will generate the strongest gross domestic product growth of the major economies over the next 12 months. This is a sharp increase from just one vote […]

Jupiter growth exempt is now high alpha

Jupiter has renamed its £14m growth exempt fund as the high alpha fund and has raised minimum investment from £5,000 to £100,000.The fund is managed by Justin Seager and the name change was needed as the firm has got the go-ahead from the FSA to take away the fund’s exempt status, which means it is […]


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