Miton Group has agreed to sell its Liverpool-based funds business, Miton Capital Partners to Seneca Investment Managers in a £6m deal.
Miton Capital Partners manages three funds - the CF Miton Distribution fund, CF Miton Diversified Growth fund, and the Midas Income & Growth trust. The investment managers running these funds - Alan Borrows, Simon Callow, Richard Parfect, and Mark Wright - will move across to Seneca and will report to CEO Stuart Eaton. The funds will be rebranded under the Senena Investment Managers name. The business will change hands for a total of up to £6.4m - £3.5m payable on completion of the deal, plus an amount representing net assets as at completion (estimated to be £1.9m) payable by the lat...
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