John Husselbee has taken advantage of a shareholder agreement with Neptune and led a management buyo...
John Husselbee has taken advantage of a shareholder agreement with Neptune and led a management buyout of his North Investment Partners Boutique.
North was formerly a wholly owned subsidiary of Neptune, with Husselbee and his colleagues Rebecca Murphy and Oliver Wallin holding shares in the group. The trio had an agreement that gave them the ability to buy out North if an opportunity arose.
As a result of the MBO, Neptune's founder Robin Geffen and finance director Robert Warner have stepped down from their directorships.
Husselbee stressed the strong relationship with Neptune will continue, as North will still act as an appointed representative.
"It was natural for them to step down as we are seen as independent, but Neptune will still continue to provide our compliance, regulatory and administration support, and we will continue to run some of its funds," added Husselbee.
"Nothing has changed apart from the ownership, which has transferred to the three of us."
Geffen and Husselbee run Neptune Multi-Manager Growth and Multi-Manager Income funds together and will continue to do so.
Husselbee added that an MBO was part of his plans from the launch of North in 2005 and will help the team gain more accounts from third-party businesses.