Martin Gilbert’s struggling acquisition vehicle AssetCo has been in secret talks to sell part of the River and Mercantile fund management business it bought only last year.
AssetCo has been talking to the rival fund manager Premier Miton about selling part of the business, although talks stalled and were terminated this week, according to Sky News.
Premier Miton had been a contender to buy R&M last year, but lost out to AssetCo, which paid almost £100 million in newly issued shares, making it AssetCo’s biggest deal. Premier Miton was formed in November 2019 from the merger of Premier Asset Management Group and Miton Group.
Gilbert is one of the best known figures in the City after co-founding and building Aberdeen Asset Management into a FTSE
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