Reverse-Merger For Artemis, Gartmore?

Nov 29 2010 | 10:03am ET

Artemis Investment Management has already profited from Gartmore Group's troubles, having swooped in to snare its Growth Opportunities Trust after that fund fired Gartmore. But the money manager doesn't appear to be stopping there.

Artemis is among a handful of funds of hedge funds and asset managers mulling a reverse-merger with Gartmore, which has been slammed with redemptions following the resignation of top hedge fund manager Roger Guy earlier this month. Gartmore quickly moved to seek a buyer, hiring Goldman Sachs to consider strategic alternatives for the firm.

In September, Gartmore's Growth Opportunities Fund voted to merge with Artemis' Alpha Trust. The fund fired Gartmore after manager Gervais Williams left the firm earlier this year.

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