Former Gartmore investor approached to back OMGI management buyout - reports

Deal could be worth £550m

Former Gartmore owner and US private equity firm Hellman & Friedman has been approached about backing a buyout of Old Mutual Investment Management from parent Old Mutual Wealth.

Hellman & Friedman is among a number of parties in talks with OMGI as it attempts to spark interest in the business' auction, according to Sky News. A potential deal would see CEO Richard Buxton lead a buyout of the division's single-strategy operations, which could see the unit being valued somewhere in the region of £550m. OMGI strengthens board with non-exec appointments Buxton is understood to have previously been in talks with former Jupiter owner TA Associates, about a deal to buy out Old Mutual Wealth's £25bn fund arm OMGI. In response to these earlier reports Old Mutual ...