Henderson Group, the parent company of Henderson Global Investors, has completed the acquisition of New Star Asset Management Group. Mark Skinner, previously director of retail fund sales and marketing at New Star, will lead the UK retail business at Henderson.
Henderson Group, the parent company of Henderson Global Investors, has completed the acquisition of New Star Asset Management Group. Mark Skinner, previously director of retail fund sales and marketing at New Star, will lead the UK retail business at Henderson.
The acquisition of New Star brings two retail funds into Henderson's 180-strong property fund management business, the £615 mln (EUR684 mln) UK Property Unit Trust, a fund invested in a diversified range of UK commercial property, and the £400 mln International Property Fund. Roger Dossett will oversee the integration of the funds into Henderson's portfolio.
Henderson has a strong reputation as a property fund management business with property assets under management of around £10 bn. The property team has over 180 dedicated members and a presence in Henderson's offices worldwide including the UK, Germany, Italy, Singapore and the US.
Andrew Formica, Chief Executive of Henderson Group said: 'We are delighted to have reached this stage so quickly after announcing the deal just nine weeks ago. This is a fresh start for investors in New Star funds and our number one priority is to get back the levels of performance that investors in these funds expect from us as their investment managers.'
The completion of the acquisition means that New Star staff transferring to Henderson will start to work from Henderson's offices from Tuesday 14th April.
