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.

Pensions giant near doubles Hargeaves stake

Pensions giant near doubles Hargeaves stake

Dutch pension giant APG has near doubled its stake in Hargreaves Lansdown from 8.3 million shares to 14.3 million or just over 3% of equity in the business, worth £214.8 million at a share price of £14.93. 

Shares in the company closed just over 1% higher as the trade was reported to the stock market yesterday, almost a week after company co-founder Stephen Lansdown cashed in more than 17.2 million shares worth more than £190 million.  

The sale took Lansdown's holding in the business from 15% of the shares to 12.3%. He remains the second largest investor in the business, behind co-founder and former business partner Peter Hargreaves with 32.2%. BlackRock trails some distance behind on third with 6% of shares. 

Lansdown has been trimming his stake in the business in recent years, selling £200 million worth of shares in 2014 and £58 million in 2010. 

While relatively unheralded in the UK, APG manages one of the world's largest pension funds as the in-house asset management division of Dutch civil service pension provider ABP, with approximately €344 billion (£306 billion) in client funds.  

Ahead of the sale last week, Lansdown joined Wealth Manager for an exclusive video chat.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: How Julius Baer plans to win UK wealth

2 Comments Profile: How Julius Baer plans to win UK wealth

Julius Baer has embared on a hiring spree to fuel its ambitious UK expansion plans.

Wealth Manager on Twitter