1st Aug 2018 14:23
LONDON (Alliance News) - Caledonia Investments PLC on Wednesday said investee Seven Investment Management has acquired Edinburgh-based Tcam Asset Management.
Seven completed the acquisition on Tuesday. Caledonia invested GBP14.0 million in Seven Investment to finance the acquisition.
Tcam's assets under management total GBP1.2 billion and will bring Seven Investment's assets to GBP14 billion
"The Tcam team will augment Seven's London and Jersey based operations, providing us with a strong base in Edinburgh as well as additional resource and expertise in our investment team," said Seven Investments Chief Executive Officer Tom Sheridan.
Shares in Caledonia Investments were trading down 0.2% at 2,805.00 pence each on Wednesday afternoon.
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