Troy AM sells minority stake to US firm in bid to increase employee equity participation

Stake partly from founding family

Troy Asset Management has sold a minority stake in its firm to US private equity company Lincoln Peak Capital.

The shares have been acquired by the private company from non-management shareholders, including the Weinstock family, who are part of the founders of the asset manager. Troy AM was established in 2000 by CIO and founder Sebastian Lyon and the late Arnold Weinstock. The firm said the agreement will increase direct equity ownership in the business held by employees and management, to accomplish firm's "long-desired" objective of increasing equity participation among its employees. Troy Income & Growth opts to merge with STS Global Income & Growth Boston-based Lincoln Peak was fou...