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...
Risk to retail investors
Latest news and analysis
Taking up non-exec role
Following 2016 thematic review