Jupiter Execs Raise £60M In Share Sale

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.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.