Martin Currie has sold almost 25 per cent of its equity to fund manager Crestview and Lord Rothschild in a move aimed at providing the liquidity to tie in managers through equity stakes.
New York investment firm Crestview takes a 17.43 per cent stake while 7.47 per cent will go to investment vehicles associated with Lord Rothschild.
Chief executive Willie Watt says the move will ensure the firm’s independence and enable equity ownership to be passed down the generations.
He says: “It provides the limited liquidity we need and facilitates the orderly transfer of ownership from one generation of employees to the next. By exercising options, as part of this transaction, 26 of our key investment personnel and more recent recruits will become bigger shareholders in the business.
“The parties making this investment in Martin Currie bring extensive experience, contacts and standing in our field..”
Crestview Partners Richard DeMartin says: “We firmly believe Martin Currie is uniquely positioned due to its ownership structure, product focus and strong performance credentials.”