Elcot Capital Management has increased its stake in Premier Asset Managment to become the majority owner of the business.
Elcot increased its stake in Premier by 25.1 per cent this week and now owns 50.2 per cent of the asset manager. Premier’s senior management and fund management team own 25 per cent. Electra Private Equity owns the remaining 24.8 per cent stake.
Elcot, which is a privately owned firm led by Mike Vogel, announced that it was taking an intial 25.1 per cent stake of Premier in August.
Mike O’Shea, chief executive of Premier Asset Management said: “Our new shareholder base further underscores and protects our independence as we seek to accelerate our growth based on relevant investment funds, very strong investment performance and increased distribution capability.”
