Travers Smith LLP has advised TA Associates on the proposed sale of Merian Global Investors Limited (Merian) to Jupiter Fund Management PLC (Jupiter). The consideration is £370 million, to be paid through the issue of 95,360,825 new Jupiter Shares to current Merian shareholders.
Completion is subject to the satisfaction of certain conditions including regulatory approvals and the approval of Jupiter's shareholders.
Merian is an independent, global asset management firm which utilises an active high-conviction investment strategy. Merian distributes its products to wholesale, retail and institutional investors in the UK, EMEA, the Americas and Asia. Merian provides world-class investment expertise across virtually all major asset classes, in addition to highly-regarded capabilities in a number of specialist areas, offering a broad range of fundamental and systematic active fund strategies, with the largest strategies being global equities and UK equities. In addition, Merian has strong capabilities in fixed income, European equities, global emerging market equities, alternatives and global asset allocation.
Jupiter is an independent, high conviction, active asset management business, managing mutual funds, segregated mandates and investment trusts on behalf of individuals and institutions across the UK and internationally. Jupiter’s primary purpose is to help clients achieve their long-term investment objectives through delivering superior returns after all fees on client assets. Asset classes covered by Jupiter’s funds include equities, fixed income, multi-asset, multi-manager and alternatives (including absolute return funds).
The Travers Smith team was led by Head of Private Equity & Financial Sponsors and Co-Head of Corporate Paul Dolman, with support from Private Equity & Financial Sponsors Senior Counsel Alex Dixon and Private Equity & Financial Sponsors Associate Eric Van Winssen. Financial regulatory advice was provided by Partner Tim Lewis and Associate Sam Brewer, tax advice was provided by Partner Simon Skinner, Equity Capital Markets advice was provided by Partner Philip Cheveley and Senior Associate James Addison, Incentives and Remuneration advice was provided by Partner Mahesh Varia and Senior Associate Claire Prentice and Employment advice was provided by Senior Counsel Ailie Murray.