Edinburgh-based active equity investment manager Martin Currie has agreed to sell 17.43 per cent of its equity to New York-based investment firm Crestview Partners and 7.47 per cent to interests associated with Lord [Jacob] Rothschild. The remaining 75.1 per cent of the company will continue to be held by its employees. The move follows rejected approaches from private equity interests in March 2007. Martin Currie's chief executive Willie Watt said: "Independence and employee ownership have been distinguishing features of Martin Currie since its beginnings in 1881. This strategic investment provides the limited liquidity we need and facilitates the orderly transfer of ownership from one generation of employees to the next. By exercising options as part of this transaction 26 of our key investment personnel and more recent recruits will become larger shareholders in the business. "The parties making this investment in Martin Currie bring extensive experience, contacts and standing in our field. They will add significantly to our business through being able to help us with both the development of our investment approach and skills and our strategy for the next phase of our growth." Martin Currie has also appointed Brian Canavan to its Asia-Pacific team. He joins from Deutsche Bank in Hong Kong where he was head of global accounting and valuation research, and will report to Martin Currie's Asia Pacific team head Jason McCay. Mr Canavan will oversee research functions and the ongoing development of the team in Asia, where more than a third of the group’s £14.1 billion ($28 billion) funds under management is invested.