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Boutique City fund manager 7IM to be put up for sale later this year

Boutique City fund manager 7IM to be put up for sale later this year with experts predicting it could be worth £400m

For sale: 7IM was founded in 2002 by a team including Justin Urquhart Stewart, an ambassador for the firm

Boutique City fund manager 7IM will be put up for sale later this year, according to Sky News.

7IM was founded in 2002 by a team including Justin Urquhart Stewart, an ambassador for the firm.

It was bought by London-listed Caledonia Investments in 2015 in a deal valuing it at £100million.  Caledonia has hired investment bank Evercore Partners to oversee a sale this year. Sources told Sky News the sale could value 7IM at around £400million. 

But they cautioned the sale could be pushed back if market turmoil is ongoing.

It comes after another asset manager Brooks Macdonald last year approached 7IM’s controlling shareholder about a deal.

It is thought Brooks Macdonald, which is also listed in London, will be a contender in the auction for 7IM as well as private equity firms.

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Read more at DailyMail.co.uk