Monday, 4 May 2015
Last updated 6 hours ago
May 18 2010 | 12:00pm ET
Jupiter Asset Management, the hedge fund and traditional asset manager, is set to go public next month.
The London-based firm plans to raise more than £220 million in an initial public offering on the London Stock Exchange. As part of the deal, private equity firm TA Associates will sell some of its stake in the firm.
Jupiter, which has about £20 billion in assets, will use the proceeds from the share sale to pay down its debt.
J.P. Morgan Securities will serve as the sole sponsor of the offering. The firm is also one of Jupiter’s financial advisers, along with Lexicon Partners, and is joint bookrunner alongside Bank of America Merrill Lynch. Numis Securities is co-lead manager.
“The strength of Jupiter’s investment culture has enabled us to attract and retain our talented team of fund managers and to deliver out-performance for clients through the market cycle,” Jupiter chief Edward Bonham Carter said. The money raised in the IPO will “further enhance our ability to achieve this objective for growing our client base.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…