L&G considers sale of Cofunds

Legal & General is understood to be considering a sale of its Cofunds platform, just over two years after it sealed a deal to take full ownership.

The firm, which fully acquired Cofunds in March 2013, is believed to have appointed corporate advisers Fenchurch Advisory Partners to seek bidders for the platform. Private equity firms are understood to be among the leading candidates to acquire the business, in keeping with the sector's recent expressions of interest in the likes of  Transact and 7IM. A spokesperson for Legal & General said the firm declined to comment on market speculation. L&G paid £131m to take full ownership of the platform in 2013, buying out the shares of Threadneedle, Jupiter, Prudential and Newhouse Capit...