Update: Buxton retains management of £2.3bn UK Alpha fund in £600m OMGI sale

Will remain on £2.3bn UK Alpha fund

Old Mutual Global Investors CEO Richard Buxton

Old Mutual Global Investors CEO Richard Buxton

The £25.7bn single-strategy business spun out from Old Mutual Global Investors' (OMGI) and sold to senior management, including chief executive Richard Buxton, and TA Associates will be capitalised to "attract new investment desks and fund managers", while Buxton will also remain as manager of the £2.3bn UK Alpha fund.

Parent firm Old Mutual Wealth confirmed this morning the single-strategy business will be sold in a £600m deal with TA Associates paying £570m in cash on or before completion and a further estimated £30m,...

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