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Gartmore’s Hellman & Friedman preferred buyer for Insight, say reports

Schroders and Hellman & Friedman, the private equity firm that owns Gartmore, are among five bidders said to have tabled offers for Insight Investment, according to reports.

Reports say Bank of New York Mellon and an unamed bank and privately owned asset management combine also submitted offers for parts of Lloyds-owned asset management business last weekend.

Lloyds is expected to choose one or two preferred bidders for the business within weeks with offers estimated to range between £150m and £250m, according to reports.

Insight chief executive Abdallah Nauphal’s preferred buyer is thought to be Hellman & Friedman.

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