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Date Jun 29, 2018
Source TA

Sale of Old Mutual Global Investors - OMGI and TA Associates Comment

Following the announcement that Quilter plc has completed the deal to sell the single-strategy arm of Old Mutual Global Investors (OMGI) to the OMGI management team and funds managed by TA Associates, Richard Buxton, CEO, OMGI comments:

“We are thrilled to have reached this significant milestone and are incredibly excited to start the next stage of our journey. With the backing of TA Associates, I have every confidence that we will grow substantially from here. We are now preparing for the next big development: renaming the business later in the year. We look forward to sharing more information on this in due course.

“As ever, our priority remains running distinctive, genuinely active funds. In my view, volatility is set to make a comeback as central banks end the extraordinary monetary policy experiment of the last decade; we are committed to helping clients navigate this unprecedented market environment.”

Christopher Parkin, managing director at TA Associates, adds:

“Old Mutual Global Investors’ single-strategy business is among the UK’s fastest growing retail and institutional asset managers, and we believe the firm has tremendous potential to capitalise on strategic opportunities, both in the UK, as well as internationally. We are very excited to begin our partnership with Richard and the OMGI team.”

Background

In September 2017, the parent company of Old Mutual Global Investors, Old Mutual Wealth (now Quilter plc) announced its intention to develop the multi-asset and single-strategy teams of Old Mutual Global Investors as separate, distinct businesses.

In December 2017 Quilter plc announced that it had agreed to sell the single-strategy business to the single-strategy management team and funds managed by TA Associates, the global growth private equity firm.

The single-strategy business focuses primarily on managing investments in single asset classes. For the time being the single-strategy business will continue to trade as Old Mutual Global Investors, further details on the new name will be available in due course.

The multi-asset business, which focuses primarily on providing investment strategies across multiple different asset classes, will remain a part of Quilter plc.

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