Artemis managers agree five-year lock-ins after buy-out

clock

A group of 17 Artemis fund managers and key staff have agreed to a five-year lock-in preventing them from leaving or selling shares in the company before 2015.

The deal forms part of the sale of the boutique to the fund managers and the US Affiliated Management Group (AMG). AMG, the Boston-based fund management group, and the firm's key staff have taken over the boutique for an undisclosed sum. The deal ends two years of uncertainty for Artemis. AMG came close to buying Fortis's stake in September 2008, but the deal was held off amid the financial crisis. In October 2008, Fortis was forced by a change-of-control clause to pay £330m to 14 Artemis fund managers for the third of the business they owned. When Fortis was broken up last year...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Muted response as Labour names Grimsby Town FC co-owner next investment minister

Muted response as Labour names Grimsby Town FC co-owner next investment minister

After the sudden exit of Poppy Gustafsson last week

Eve Maddock-Jones
clock 08 September 2025 • 2 min read
Hargreaves Lansdown and Schroders to launch double LTAF offering

Hargreaves Lansdown and Schroders to launch double LTAF offering

From next week

Eve Maddock-Jones
clock 08 September 2025 • 2 min read
Darius McDermott: Complacency at the peak

Darius McDermott: Complacency at the peak

'Markets to hit new highs, while credit spreads are at multi-decade lows'

Darius McDermott
clock 08 September 2025 • 5 min read