Update: Hermes' Nusseibeh says 'it's time to look to the next phase' as Federated Investors takes £246m majority stake
Will own 60% of Hermes IM
Hermes chief executive Saker Nusseibeh
US fund giant Federated Investors has taken a majority stake in Hermes Investment Management, paying its parent BT Pension Scheme (BTPS) £246m for the 60% share.
BTPS is to retain 30% of Hermes, with the opportunity to sell that residual holding to Federated after three years. Hermes' management team will hold the remaining 10%. Hermes IM, widely known as an...
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