Michelmores' Corporate team has advised CRUX Asset Management on an investment by Stephens.
Michelmores' Corporate team, led by Partner Edwin Richards, has advised CRUX Asset Management on an investment from Stephens, one of the largest privately held financial services firms in the United States of America. The deal will result in Stephens, subject to FCA approval, holding a little under 20% of the ordinary share capital of CRUX Asset Management.
Commenting on the deal Karen Zachary, CEO at CRUX, said:
"This is a very exciting strategic step for CRUX and we are delighted to be partnering with a firm of such a high calibre as Stephens. We see clear synergies between our two firms. Over the last five years, we have built a scalable platform at CRUX that has enabled us to expand our investment offering into Asia and the UK with complementary strategies that fit our plans to build a diversified range of active management strategies."
Karen Zachary commented further:
"We are very pleased with the support we received from Michelmores, for what was a complex transaction. Their advice is commercial and practical, whilst ensuring we achieve our legal and financial goals."
Edwin Richards commented:
"Having been on the journey with CRUX since its inception, we are very pleased to have been able to help them reach this new milestone."
Stephens was advised by Herbert Smith Freehills.