View more on these topics

Old Mutual approaches private equity for investment arm buyout

Old Mutual has approached the US firm that invested in Gartmore to facilitate a buyout of the single strategy division of the asset manager, led by OMGI chief executive and star fund manager Richard Buxton.

Hellman & Friedman is among the private equity houses that have been sounded out by Old Mutual, alongside Cinven and CVC Capital Partners, Sky News reports.

The single strategy asset manager could be valued at around £550m.

Hellman & Friedman bought Gartmore in 2006 before relisting it on the London Stock Exchange three years later. It was later acquired by Henderson Global Investors, now Janus Henderson.

TA Associates, which used to own Jupiter, has previously been named as involved in the OMGI talks.

The buyout, part of Old Mutual’s managed separation, would result in a company with £25bn assets under management. Paul Simpson would then head Old Mutual’s remaining multi-asset business.

Sky News reported Affiliated Managers Group and Natixis are also likely to be approached about backing the deal.



Aviva outlines adviser training plans for new platform

Aviva expects to move to its new advised platform by the end of November, with training for advisers to start around two months before. Aviva announced it was switching the technology behind its advised platform to FNZ from Bravura in April last year. Initially, the provider expected the replatforming to complete in the first half […]


Govt: No legislation needed for ‘advice’ vs ‘guidance’

A leaked memo has set out why the Government does not think the terms “advice” and “guidance” need to be set out in forthcoming legislation. Last week, the House of Lords debated the bill that will introduce a new public financial guidance body to merge existing services The Money Advice Service, The Pensions Advisory Service […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment