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OTPP snaps up Caledonia Investments’ majority stake in wealth management firm 7IM for £255m

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Caledonia Investments has sold its majority stake in Seven Investment Management (7IM) to Ontario Teachers’ Pension Plan (OTPP) for £255 million, pending Financial Conduct Authority (FCA) approval.

Facts

  • Caledonia Investments, a FTSE-250 listed self-managed investment trust in London, UK, sold its majority stake in 7IM to OTPP for £255 million.
  • The sale is subject to FCA approval, and the proceeds will be held on deposit for future investment by Caledonia.
  • An audit valued Caledonia’s share in 7IM at £187.1 million, excluding an expected additional investment of £13.2 million.
  • 7IM, led by CEO Dean Proctor, serves 9,000 retail investors and 2,000 intermediaries in the UK, managing £21 billion in assets.
  • Caledonia acquired 7IM in 2015 for £100 million and aimed for long-term growth.
  • The sale targeted private equity firms, and OTPP, a Canadian investor with $249.8 billion in assets, emerged as the successful bidder.
  • Proctor sees 7IM as well-positioned for future growth under OTPP ownership.

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