Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Bramson wins Soros backing for new buyout fund

Bramson wins Soros backing for new buyout fund

F&C head honcho and activist investor Edward Bramson has secured the financial backing of Soros Fund Management to launch another Guernsey-listed buy-out vehicle.

The fund will sit alongside Sherborne Investors Guernsey A, through which Bramson controls a 22% stake in F&C.

Head of distribution at the company Richard Wilson replaced Bramson as chief executive this week, while Mr Bramson will remain as executive chair until the spring before becoming a non-executive.

Sherborne Investors Guernsey B has listed on AIM and raised £270 million according to a report in the Financial Times, although it has not released any detail on its potential targets.

According to the paper, previous backers such as Threadneedle and Aviva have already backed the mandate.

Mr Bramson favours undervalued and underperforming UK listed companies which he believes have turnaround potential. He began to buy heavily into F&C in 2010 before ousting the senior executive team in 2011 and assuming control of the company, launching a major restructuring of the business.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter