Gartmore Edges Closer to $815 million IPO

October 25th, 2009
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Asset management firm Gartmore Investment Management is looking to benefit from a projected $815 million initial public offering on the London Stock Exchange. According to the Financial Times, the firm will register its initial offering plans with London’s Financial Services Authority early this week with aim to go public by the end of the year.

Gartmore, which is owned both by senior management and private equity firm Hellman & Friedman, will seek to benefit from the recent market rally and the company’s solid performance since the beginning of second quarter of 2009. The offering will allow Hellman & Friedman to reduce its ownership stake in the hedge fund manager and will also allow the private equity firm to pay down some $650 million of Gartmore’s debt.

In May 2006, Gartmore Investment Management was spun-off from Nationwide Mutual Insurance when it was purchased by a team of Gartmore's Senior Fund Managers and Hellman & Friedman. The firm offers numerous funds to private and institutional investors, including emerging market, global, multi-manager, fixed income, absolute return, and region-specific funds.
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Gartmore Investment Management
Related People: Ben Wallace; Dominic Rossi; Guillaume Rambourg*; Jeff Meyer; John Bennett; Luke Newman; Roger Guy
Related Entities: Gartmore AlphaGen Avior Fund; Gartmore AlphaGen Capella Fund; Gartmore AlphaGen Crucis Fund; Gartmore AlphaGen Rhocas Fund; Gartmore AlphaGen Velas Fund; Hellman & Friedman LLC
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News


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