Caledonia Investments has reportedly in advanced talks to acquire a controlling stake in wealth manager Seven Investment Management in a deal valued at around £100m.
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A Cayzer family investment trust, Caledonia, will take over the stakes held by insurance company Zurich Insurance Group and asset manager Aegon, which collectively represents 64% of the business, according to a Sky News report.
Seven’s management team will continue to hold the remaining interest with the firm’s partners not requiring to sell their shares as part of the acquisition by Caledonia.
Caledonia, which traces its roots to the shipping empire established by Sir Charles Cayzer in 1878, invests in listed and unlisted opportunities with a minimum investment size of £10m and has net assets of £1.4bn under management.
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