Gresham House set to be bought by US firm for £469.8m
The offer has been recommended by the Gresham board
The offer has been recommended by the Gresham board
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‘The clock is now at one minute to midnight for the future of GAM’
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Pre-tax profits and dividends also hit highs in 2022/23
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Rumoured to have given prospective buyers until the end of July to table offers
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Closing FUM of £16.85bn versus £16.79bn at the end of the previous quarter
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Allegedly working with Goldman Sachs on a review of the business
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Current market cycle ‘proving to be particularly powerful’
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GAM board calls for shareholders to accept the deal
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Following the appointment of Gabrielle Beaumont as CEO
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Backed by 84% of votes at a general meeting held on 7 July
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Deal will see the US private credit firm renamed ‘Man Varagon’
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CEO Nikhil Rathi revealed they had been ongoing since mid-2021
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