Midas Capital will sell off £62m in Guernsey and South African-based offshore funds over the next month in the final disposal of its non-core assets.
The group will sell its Guernsey-based Midas Capital International company to MitonOptimal International - with the Cape Town-based Midas Capital Asset Management offloaded to a consortium led by the offshore group's CEO and former MitonOptimal joint managing partner Scott Campbell. Both groups are operating funds under the MitonOptimal brand, which includes a £30m offshore mirror of Martin Gray's popular Special Situations Portfolio. Midas Capital will receive a cash payment of £300,000 as well as a dividend pre completion of surplus net cash in the two offhore companies, amounting t...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
