Elcot Capital Management, a UK-based investment manager, has increased its stake in Premier Asset Management to 50.2% from 25.1%.
Elcot, which now owns majority stake in the business, paid Electra Private Equity £20m for additional stake.
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In August 2014, Elcot Capital acquired a 25.1% stake in Premier Asset Management from Electra Private Equity in a deal worth £10m.
Additionally, Premier’s senior management and fund management staff will hold a total 25% stake in Premier, while Electra will retain the remaining 24.8% stake in Premier.
Mike O’Shea, CEO of Premier, said: "Our new shareholder base further underscores and protects our independence as we seek to accelerate our growth based on relevant investment funds, very strong investment performance and increased distribution capability."
