Old Mutual Global Investors Close to Deal for Fund Unit -FT

An unnamed source says that Old Mutual Global Investors Chief Executive Richard Buxton and private equity group TA Associates are nearing an agreement to purchase a large part of OMGI for about GBP600 million, the Financial Times reports.

--According to the Financial Times, the deal to buy the asset manager's GBP25 billion single-strategy business is set to be announced in a matter of days, and its aim is to create a new independent investment boutique that will be supported by TA.

Full story: http://on.ft.com/2zetMKh

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(END) Dow Jones Newswires

December 15, 2017 08:11 ET (13:11 GMT)