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International Asset Management carries out MBO

International Asset Management has undertaken a management buy out of the firm from Fortis.

This is the result of a strategic review that has been underway following the merger of Fortis Investments and ABN AMRO Asset Management in April.

Launched in April 1989, IAM was privately owned until February 2006 when it was acquired 100 per cent by AAAM and became the fund of hedge fund team within the larger organisation.

The entire IAM team including the original founders remains with the firm.

IAM has $4.3 bn in assets under management and ownership of IAM now rests with a broad group of employees supported by two new external shareholders, Sir Ronald Cohen and Jefferies Group.

Sir Ronald Cohen co-founded Apax Partners and currently chairs Portland Capital and Bridges Ventures.

Jefferies is a global investment bank and financial services firm with extensive experience within the asset management industry.

Future plans for the firm include increasing IAM’s global reach and audience, developing a broader sales and distribution network whilst maintaining a continued focus on tailor-making fund of hedge funds investment solutions for discerning institutional and private clients.

IAM CEO Morten Spenner says: “We feel this MBO is the optimal solution for IAM clients and employees and we appreciate the support shown by Fortis to reach this conclusion.

“Over time, we have developed a strong and cohesive team which is committed to being amongst the very best in the industry. Our future as an independent specialist is an exciting opportunity for us all. IAM’s new ownership structure generates a strong alignment of interests within the firm plus great depth of experience from our two new external shareholders.”


Careful what you wish for

With its excessive highs and severe lows, the mortgage market truly is the financial services equivalent of extreme sports. The latest Bank of England figures show that the number of people arranging a mortgage to buy a home has fallen to its lowest level since official records began but you do not have to look back far to sample significant highs and lows.

Hot metal

In the context of June’s steep market falls, including a 10 per cent drop in the FTSE All Share index, the well-worn adage “sell in May and go away” looked like sound advice.


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