US-based investment firm Stephens has brokered a deal to pick minority ownership in CRUX Asset Management through a wholly owned subsidiary entity.
The deal, whose financial terms were not disclosed, will see Stephens acquiring approximately 20% of CRUX share capital. The firm will issue new ordinary shares to support the deal.
Go deeper with GlobalData
As part of the transaction, Stephens’ affiliate Stephens Inc senior vice-president John Stephens will join the CRUX board as a non-executive director.
Founded in 2014, CRUX is an active equity investment manager overseeing £1.7bn in assets. The firm has three core equity teams focused on Europe, the UK and Asia.
In September last year, it hired Asia equity fund managers Ewan Markson-Brown and Damian Taylor to develop its Asia equity franchise.
Last month, CRUX struck a strategic partnership with Union Bancaire Privée (UBP) to advise the latter on its Asia equity funds and mandates.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataUnder the tie-up, UBP will offer its Asian investors exclusive access to CRUX’s equity offerings.
CRUX CEO Karen Zachary said that the partnership with Stephens will boost the firm’s capital base and allow it to bolster the recently acquired UK and Asia strategies and expand distribution.
Zachary added: “Our teams are built on an ethos of collaboration, a commitment to fundamental research, and a long-term record of outperformance across equity benchmarks.
“We look forward to continuing to deliver the scale of performance that can only be achieved by active management with aligned investment aims to our clients globally.”
Commenting on the deal, Stephens said: “We are excited to make an investment in CRUX Asset Management which, in our view, is comprised of extremely talented individuals who come together to create a cohesive and exciting team with a bright future.
“We are looking forward to working with Karen and others in helping the business achieve its goal of becoming a leading, independent asset manager and the platform of choice for high quality PMs with a passion for what they do.”
Founded in 1933, Stephens focuses on family investments, asset management investment banking, private equity, public finance, wealth management, and insurance brokerage.
The Arkansas-based firm has additional locations in strategic domestic markets and a European practice in the UK and Germany.
