Asset management firm iM Global Partner has taken a non-controlling minority stake in London-based investment firm Trinity Street Asset Management.
Trinity Street had $8.6 billion in assets under management as of March 31. The deal with iM Global Partner is subject to regulatory approval by the U.K.’s Financial Conduct Authority and will be completed following this process.
Trinity Street manages active global and international equity portfolios. In addition to its London headquarters, it has an office in New York and employs 28 professionals. Following the deal with iM Global Partner, the Trinity Street partners will continue to hold the majority of the equity of the firm and will continue to operate the firm independently.
Terms of the deal were not disclosed. IM Global Partner has been contacted for details, and Trinity Street has declined to comment on the terms.
Richard Bruce, CEO and CIO of Trinity Street, said in a news release: “Given its history of successful minority partnerships, iM Global Partner is the ideal long-term shareholder for Trinity Street. We are committed to ensuring the longevity and stability of our firm, aligning our interests with those of our clients and delivering strong investment returns, preserving our independence, and driving the entrepreneurial culture.”
IM Global Partner has $45 billion of assets under management.
