Fund Management

Gartmore To List On London's Stock Market

Will Robins 23 November 2009

Gartmore To List On London's Stock Market

Gartmore, the UK fund management group equally owned by management and private equity group Hellman & Friedman, has applied for listing on the London Stock Exchange.

The company intends to use the proceeds to reduce its net debt to approximately £150 million. It will also allow shareholders to realise part of their investment.

“We believe that a stock market listing now is the logical next step in Gartmore’s development. It will raise the profile of the Group and provide benefits for our clients, shareholders and current and prospective employees. The fundamental prospects for our business are attractive and we have a clear strategy in place to deliver further growth,” said Jeffrey Meyer, Gartmore’s chief executive.

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