DSP partners take 50% stake in firm

Senior executives of Dalton Strategic Partnership (DSP) are set to purchase equity in the firm following the death of founder Andrew Dalton in April last year.

Twenty partners will control 51.5% of DSP’s equity, while the Dalton family will retain a 25% stake in the business. The agreement will come into play in February.

DSP said the move will ensure the firm remains independent and incentivises the executives to continue to grow the business as a private company.

DSP’s external shareholders and strategic partners, FuNNeX Asset Management, based in Tokyo, and Interward Asset Management, based in Toronto, will also retain their interest in the group.

Among the partners involved in the equity purchase are Magnus Spence (pictured), who has recently taken over as managing partner; Rupert Caldecott, head of wealth management; Leonard Charlton, head of absolute return; Nick Mottram, head of long-only equity; and Richard Jones, head of sales and marketing.

All members of the management team, together with other senior executives of the firm, have invested capital in DSP and in the Melchior range of funds, according to the group.

Andrew Dalton passed away last year at the age of 62. He founded DSP in 2002 and was both managing partner of the firm and chief investment officer of the global asset allocation team.

DSP saw growth in assets under management of 24% for 2011, and an increase in revenues of 50%, the group said.