The deal consists of GBP 0.35m cash payment upon closure as well as writing off the existing intra-group loan provided by Epic to Syndicate of nearly GBP1.25m.
SAM said that the net proceeds of the sale will be added to the group’s working capital.
Syndicate Asset Management group CEO Mark Cheshire said that the focus is now squarely on the
wealth management sector, in particular expanding the presence of its Ashcourt Rowan brand and the availability of its Savoy service across the UK.
Hume Capital CEO Nitin Parekh said that Hume Capital is specializing in active fund management. Our objective is to build a strong asset management business focused on delivering outstanding investment performance and client service in a manner which aligns the interest of clients, the firm and its employees.
"The integration of a highly experienced institutional fixed income asset management team with a high quality client base is an important development for our business," Parekh said.
