Northill to buy majority stake in Longview
Northill Capital (Northill) has agreed to acquire a majority interest in Longview Partners (Longview), the asset management firm that specialises in equities portfolio management.
Northill’s investment in Longview represents approximately 55% of the firm’s equity. It will buy out the entire shareholding of Keith McDermott, (CEO) of Longview Partners and co-founder, who will retire on completion of the transaction. The remaining balance of the equity will be acquired from remaining shareholders including co-founder Ramzi Rishani.
"Longview’s partnership with Northill represents a strong fit with our values and culture. I am confident that in Northill, Longview has found the right long-term partner to ensure the optimal outcome for our clients, employees and shareholders,” said McDermott.
Following the transaction, Rishani and existing partner Marina Lund will become co-CEOs of Longview, with the former continuing in his role as chief investment officer. All remaining Longview partners will continue at the firm while the number of equity owners will rise over time.
“Significantly, this transaction ensures that Longview remains an independent partnership where the existing team continues to run the business,” said Rishani. “We will continue to broaden the equity ownership of the firm to future leaders within Longview.”
In a statement the firms said that Longview would ensure that day-to-day operational control were carried out by the existing management team.
"Longview is our largest transaction to date and fits exactly with the profile of manager in which we seek to invest. Longview is highly successful with an outstanding performance track record and a focused, disciplined, repeatable investment process,” said Jon Little, partner at Northill Capital.
Based in London and Guernsey, Longview manages $19.5bn on behalf of predominantly institutional investors.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you
