18th Jan 2017 09:33
LONDON (Alliance News) - Juridica Investments Ltd said Wednesday that its investment manger has been sold, but the change will have no impact on its run-off plans.
Juridica, which provides capital to back corporate legal claims, said Juridica Asset Management Ltd has been sold to John Sicilian by its sole owner and founder Richard Fields.
Sicilian will run the private mandate of JAML along with his associate William Yuen, with the investment manager to be renamed Brickell Key Asset Management Ltd, said Juridica. Sicilian and Yuan previously worked as associates of Fields.
However, the comapny said the purchase indicates no change to Juridica's own run-off plans, after announcing in November 2015 it will make no further investments. Fields will also continue to be available on a consulting basis to assist the run-off strategy through 2017, said Juridica.
"I have had the pleasure of working with John and Bill over the last three years and I am confident that they will continue to facilitate the company's commitment to maximising shareholder value," said Daniel Brennan, chairman of Juridica.
Share in Juridica Investments were untraded Wednesday morning, having last traded at at 20.30 pence.
By Adam Clark; [email protected]
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