Caledonia to put boutique asset manager 7IM up for sale this year - reports

Seeks £400m valuation

Caledonia Investments, the controlling shareholder of boutique asset manager 7IM, is set to put the firm up for sale in the autumn, Sky News has reported.

City sources told the broadcaster that Caledonia, which has owned 7IM since 2015, was expected to seek a valuation of about £400m for the firm.  Investment bank Evercore Partners has been hired to handle the selling process, although it may be postponed if market circumstances continue to be unfavourable. In February, it emerged that Brooks Macdonald had approached Caledonia Investments late last year about a deal to acquire the company for £300m, which was rejected. Brooks Macdonald approached controlling shareholder of 7IM for attempted takeover bid - reports The firm is likel...