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Premier Asset Management
Fund management
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Premier Asset Management

In 2007 Electra Partners invested £33 million in support of the £57 million take-private of retail asset manager, Premier Asset Management.

Business
Headquartered in Guildford, Premier is a retail asset manager distributing funds through IFAs and wealth managers across the UK. Its investment strategies include multi-asset, UK equities, global equities and fixed interest. Funds under management at acquisition were approximately £1.8 billion.

Rationale
Premier is a growth business which, through continued investment in sales and infrastructure resources, is expected to grow product sales and gather funds under management.

Strategy
Premier's aim is to grow funds under management through a combination of continued organic growth, including broadening its product manufacturing capacity and further development of its acquisition pipeline.

Update
In December 2009 Electra Partners and Premier completed the acquisition from Aberdeen Asset Management of the management contracts of two OEIC fund umbrellas containing 10 open-ended funds comprising £910 million of assets under management. This acquisition took Premier's AUM to approximately £2.5 billion at the time.

In October 2014 Electra Partners sold a 50.2% stake in Premier to Elcot Capital Management, an investment management firm led by Premier’s Chairman Mike Vogel. Electra Partners continues to hold a significant minority interest in Premier in the form of Ordinary and Preference shares, which on the basis of this transaction have a valuation of £27 million.

Status

Active

Activity

Fund management

Sector

Financial services

Transaction type

Buyout

Initial investment

Sep 2007

Location:

UK

Website:

www.premierfunds.co.uk

£2.3 billion

assets under management at 31 August 2013

60,000

manages funds for over 60,000 investors

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