Friday, 3 July 2015
Last updated 14 hours ago
Jun 22 2011 | 9:58am ET
Senior staff at London-based Jupiter Fund Management have marked the first anniversary of the company's £220 million IPO by selling 6% of their holdings.
According to the Financial Times, the sellers—including CEO Edward Bonham Carter, CIO John Chatfeild-Roberts, and founder fund managers Tony Nutt and Philip Gibbs—raised about £62.4 million. The group was free to sell up to a third of their holdings at the expiration of a 12-month, post-IPO lock-in.
Following the sale, Bonham Carter, who sold 550,000 shares, becomes the single largest investor in the company, with a 3% stake.
Tuesday’s sale reduced employee ownership of the firm to about 30% from 37.8%, says the FT. Staff will be permitted to sell shares in two further tranches over the next two years.
Jupiter also announced that its AUM had climbed 3% during the first five months of 2011 to £24.8 billion. Jupiter is both a hedge fund and traditional asset manager.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…