Gartmore announces joint venture with Hermes
Gartmore has announced the completion of a joint venture deal with Hermes Fund Managers, which will combine private equity fund of fund business.
The new venture Hermes GPE will have assets under management of £4.1bn.
The deal, announced in Gartmore's results earlier this year, will see Gartmore's private equity team with with their Hermes counterparts.
Gartmore said at the time that the deal would "significantly improve the growth prospects" of its business.