Citywire Selector - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Bidding war for Old Mutual GI heats up

Bidding war for Old Mutual GI heats up

The Old Mutual funds business operated by Richard Buxton is at the centre of multi-million pound bid battle between two Australian financial giants.

According to Sky News, Challenger and Macquarie Investment Management are among a small number of bidders for Old Mutual Global Investors (OMGI), which runs some £25 billion (€28 billion) worth of assets.

Others names reported to be keen include former Jupiter private equity backer TA Associates. Fellow private equity firms Hellman & Friedman and CVC Capital Partners have also been heavily linked with bids.

Old Mutual, which has hired Goldman Sachs to advise on the sale, set a deadline of 29 September for interested parties to submit their bids. The sale is expected to complete before the year is out.

OMGI chief executive officer Richard Buxton (pictured) stunned the City in 2013 when he quit a top job at Schroders to join Old Mutual. 

In August 2015 he replaced Julian Ide as chief executive of OMGI following a restructure at the group. 

Last month the company announced the split its fund management business into two.

Buxton was put in charge of the single strategy arm while Paul Simpson was made responsible for the multi-asset business, which has £16 billion in AUM. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Alternative Ucits Retreat 2017

    Citywire Alternative Ucits Retreat 2017

  • Citywire Milan 2017

    Citywire Milan 2017

  • Citywire Paris 2017

    Citywire Paris 2017

  • Citywire Deutschland 2017

    Citywire Deutschland 2017

  • Citywire DACH 2016

    Citywire DACH 2016

  • Citywire Italy 2016

    Citywire Italy 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Alt Ucits 2016

    Citywire Alt Ucits 2016

  • Citywire Berlin 2016

    Citywire Berlin 2016

  • Citywire Switzerland 2016

    Citywire Switzerland 2016

  • Citywire Amsterdam 2016

    Citywire Amsterdam 2016

  • Citywire Montreux 2016

    Citywire Montreux 2016

  • Citywire Deutschland 2016

    Citywire Deutschland 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Munich 2016

    Citywire Munich 2016

  • Citywire Paris Alt Ucits 2016

    Citywire Paris Alt Ucits 2016

  • Citywire Zurich Alt Ucits 2016

    Citywire Zurich Alt Ucits 2016