Wealth Manager - the site for professional investment managers

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

Neil Woodford to join Oakley Capital

Neil Woodford to join Oakley Capital

Neil Woodford is to join Oakley Capital, the investment firm which owns part of Time Out magazine.

Woodford (pictured), will set up a new venture affiliated to Oakley at the start of May following his exit from Invesco Perpetual. He will leverage off Oakley's investment infrastructure to establish a standalone investment boutique.

In a statement Oakley Capital said the infrastructure would be in place to allow Woodford to run retail and institutional clients’ money immediately after his employment with Invesco terminates at the end of April.

Commenting on the appointment, Oakley director Peter Dubens said: 'I am delighted Neil is joining and we fully support his desire to create his own transformational asset management business soon after joining Oakley Capital.

'We will fully support the transition and in the meantime we will provide an environment in which Neil can have the autonomy and flexibility to best serve the interests of clients.'

Invesco Perpetual is the largest shareholder in Oakley Capital Investments - owning 30% of the AIM-quoted private equity fund -which provides investors access to the flagship investment strategy of Oakley Capital Private Equity. It is not clear how much of Woodford's High Income and Income funds own of this stake.

The move to Oakley raises the possibility that product launches from Woodford's new outfit may have some kind of private equity remit.

Woodford's interest in private equity has grown significantly in recent years and his exposure to the asset class hit a record high in 2011. 'We're bumping into a number of interesting investments that haven't been quoted,' he said at the time.

The news comes as Invesco Perpetual sells significant positions in a number of Woodford's holdings to cater for some £2 billion of outflows triggered by his resignation in October.  

Earlier this week the firm sold at £36 million stake in small cap property developer Macau Property Opportunities, which followed big disposals in the likes of CapitaDrax and Provident Financial.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Neil Woodford
Neil Woodford
23/82 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 57.70%
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter