Parmenion shareholders are exploring the sale of a significant stake in the firm at a valuation of between £300m and £400m, just 18 months after abrdn sold the entire company for £102m last year.
According to Sky News, the potential sale of the stake in the adviser platform, which holds around £9bn in assets under management, will be advised by Fenchurch Advisory Partners, which also advised abrdn on its original sale in March 2021. AssetCo, the wealth manager spearheaded by abrdn's former CEO Martin Gilbert, owns a 30% stake in Parmenion, while the remaining 70% is held by Preservation Capital, a private equity firm. AssetCo CEO Campbell Fleming looks to another year filled with deals Sources told Sky News that both AssetCo and Preservation were unlikely to sell their stak...
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