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.