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Liberty Ermitage Group - News
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Liberty Ermitage Group
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Manco
News
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Liberty Ermitage changes hands
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Thursday, 25 May 2006
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Official Announcement
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Ermitage Limited ('Ermitage') is delighted to announce it has successfully completed the acquisition of Liberty Ermitage Jersey Limited from Liberty Group of South Africa, following regulatory approval.
The company - whose headquarters remain in Jersey - is now owned 60% by Caledonia Investments Plc and 40% by the former management team of Liberty Ermitage Jersey Limited, together with Paul Myners who becomes Chairman.
Ermitage's Chief Executive and Chief Investment Officer, Ian Cadby, is joined on the company's board by Mark Hucker, Andrew Whelan and Paul Myners - together with Tim Ingram and Jamie Cayzer- Colvin from Caledonia.
The company will shortly undergo a transition across all of its communications and legal documents from 'Liberty Ermitage' to 'Ermitage', reverting to the original trading name of the Jersey based company first established in 1975.
Confirming the completion of the deal, Ian Cadby, CEO/CIO of Ermitage commented:
"The management team are all hugely excited about the future development of our company. With Caledonia's track record and expertise within the investment management and hedge fund industry, this deal will allow us to develop our core capabilities of managing fund of fund investments. We look forward to providing a broader and stronger product offering to our clients in the institutional, retail and private client sectors. I am delighted to have Paul Myners as our new Chairman and I am certain that his unique insight into the investment management world and his first-class business track record will deliver immediate benefits for Ermitage."
"Throughout our association with Liberty, we worked hard to create a successful and well-established organisation that was aligned with the demands of institutional investors - and with a platform capable of dynamic growth. I am confident that the new management team and staff of Ermitage have the required blend of experience, track record and determination to deliver on our strategy and to develop the business further."
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Standard Bank might sell Liberty Ermitage
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Monday, 22 August 2005
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Media Comment
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According to a report in the London Sunday Telegraph, Standard Bank Group has hired Hawkpoint Partners to advise on the sale of Liberty Ermitage Group.
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| Click here for original article |
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