British asset manager Northill Capital has agreed to purchase a majority interest in Danish high-yield asset management firm Capital Four Holding, which manages about EUR6bn in assets under management.

Under the terms of the deal, Northill will acquire a 60% stake in Capital Four, while the remaining 40% will be held by its existing partners Sandro Naf, Torben Skodeberg and Henrik Ostergaard.

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Following the transaction, Northill will indirectly acquire all the equity previously owned by a recently retired partner of the firm, with the balance of the equity also being acquired from the existing partners.

Also, additional employees of Capital Four will hold indirect equity exposure through the firm’s warrant programme and will participate in a long-term incentive plan to increase their ownership stakes in future.

This agreement will see Capital Four retaining day to day operational independence and members of the Northill management team joining the Capital Four board of directors.

Northill said that existing Capital Four equity owners will retain their remaining equity for a minimum of five years, and each will reinvest a minimum of half of their after tax proceeds in Capital Four’s investment strategies.

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Northill Capital partner Jon Little said: "As an owner alongside management, our focus is on being a long-term supportive partner, working jointly with Capital Four to ensure the business continues to grow and develop whilst maintaining its strong investment performance."

Capital Four CEO and co-founder Sandro Naf said: "Northill’s engagement ensures that Capital Four will continue as an independent firm where existing management continues to run the business, and will enable us to more readily broaden equity ownership to the firm’s future leaders."