Hermes brings private equity fund home from Henderson

Henderson Group, the investment management company, has sold its share of the Hermes private equity fund.

Henderson says: "There is no gain or loss for the group on disposal of its interest for cash."

Henderson will, however, see its assets under management drop by £1.4bn as a result of the deal.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

The ownership was a legacy from Henderson's takeover of ill-fated rival Gartmore at the beginning of 2011.

The private equity fund was originally a joint venture between Gartmore and Hermes, which has now exercised its "right to purchase" the whole of Gartmore's interest under a change of control clause.

Henderson shares have fallen 23% since the start of this year.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.