Miton Group has agreed to sell its Liverpool-based funds business, Miton Capital Partners to Seneca Investment Managers in a £6m deal.
Miton Capital Partners manages three funds - the CF Miton Distribution fund, CF Miton Diversified Growth fund, and the Midas Income & Growth trust. The investment managers running these funds, including Alan Borrows, Simon Callow and Richard Parfect, will move across to Seneca and will report to CEO Stuart Eaton. The funds will be rebranded under the Senena Investment Managers name. The business will change hands for a total of up to £6.4m - £3.5m payable on completion of the deal, plus an amount representing net assets as at completion (estimated to be £1.9m) payable by the later of ...
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