Crestview exits Martin Currie

Legg Mason has wholly acquired the company, also picking up the 50% stake previously held by employees.

Crestview acquired its stake in the company in 2007. Since then, Martin Currie's assets have halved. Furthermore, the company incurred an £8.8m regulatory fine from UK and US authorities concerning its previously owned private equity business in China.

Company
Martin Currie is a specialist active equity manager. Headquartered in Edinburgh, the company offers multi-regional and specialist equity portfolios and hedge funds through segregated mandates and pooled funds. It manages portfolios for a global client base of financial institutions, charities, foundations, endowments, pension funds, family offices, government agencies and investment funds.

Martin Currie was established in 1881 and had $9.8bn in assets under management as of 30 June 2014.

People
Willie Watt is CEO of Martin Currie. Joe Sullivan is president and CEO of Legg Mason.

Advisers
Equity – JP Morgan (M&A); Dechert (Legal).
Company – UBS Investment Bank (M&A).

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• Topics
• Exits
• UK / Ireland
• Financials
• United Kingdom