Gowling WLG's Corporate team has advised AIM listed AssetCo plc ("AssetCo") on the acquisition of Saracen Fund Managers Limited (an Edinburgh based fund management company), the acquisition of a controlling interest in Rize UK Limited (an issuer of thematic Exchange Traded Funds) and the acquisition of a minority interest in Parmenion Capital Partners LLP (a technology investment solutions platform). In addition, we advised AssetCo on its over-subscribed £25 million placing undertaken by Numis Securities Limited by way of accelerated book build.
AssetCo, is the new high profile business venture of a management team led by Martin Gilbert (ex Co-CEO of Standard Life Aberdeen) and Peter McKellar (ex Executive Chairman and Global Head of Private Markets at Standard Life Aberdeen). AssetCo's mission is to acquire, manage and operate asset and wealth management activities and interests together with other related services.
The Gowling WLG team was led by consultant Nick Heather, who is also general counsel at AssetCo. Nick was supported by senior associate Roisin Bergin, legal apprentice Maya Thompson, partner Kristian Rogers and principal associate Sushil Kuner, together with specialists in real estate, employment and tax who assisted in terms of the due diligence exercises involved.
Nick said "The investment management world is undergoing fundamental market shifts which offers significant opportunities for value creation. AssetCo has very ambitious growth aspirations and under the leadership of its well-known and respected management team intends to pursue these".
Gowling WLG's Corporate team offers legal advice to clients ranging from the world's leading financial institutions and public companies, to private businesses and entrepreneurs. The 60-strong team has extensive experience across the full spectrum of corporate advice including equity capital markets on AIM and the Full List, investment funds, private equity and both public and private mergers and acquisitions.