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Jupiter and TA Associates complete MBO

Jupiter and TA Associates have completed the management buyout of Jupiter Group from Commerzbank AG for £740m.

The MBO has been approved by the FSA, seeing Jupiter and US private equity firm TA Associates taking joint ownership of the group.

Jupiter’s senior management team – including Bonham Carter and fund managers Anthony Nutt, Philip Gibbs and John Chatfeild-Roberts – have a majority stake in the business and employees were given, and nearly all have accepted, the opportunity to acquire shares in the new holding company.

Jupiter Investment Management chief executive Edward Bonham Carter says: “We are delighted to have completed this transaction and to have TA Associates as our partner. Our new ownership structure creates considerable certainty for our clients going forward, with both Jupiter’s senior management team and employees participating in equity ownership of the business alongside TA Associates.

“We believe the asset management sector in the UK and Europe is in the early stages of a significant growth phase and TA Associates’ considerable experience in asset management will undoubtedly help us achieve our goal of increasing our share of these markets.”

TA Associates managing director Michael A R Wilson says: “We are pleased to complete our eleventh asset management investment and look forward to working closely with Jupiter management to help them continue building value for clients, employees and shareholders.”

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