Investor group NewGAMe and Bruellan, which holds a 7.5% stake in GAM, has called on the firm's board to be mindful of its "potential" as it contemplates any "strategic transaction".
The asset management firm is currently in discussions with Liontrust over a buyout by the latter for an unknown amount.
Liontrust 'in discussions' to buy GAM
A decision is expected to come by 4 May, as GAM delayed publishing its annual results earlier this week (24 April) so it could "successfully conclude the commercial discussions within our strategic review" prior to any potential deal being agreed.
NewGAMe group is a Geneva-based firm co-owned by several investors, and is a subsidiary of French firm NJJ Holding, the personal holding company of French businessman Xavier Niel. The firm has joined with Bruellan, an independent provider of global wealth management solutions, "with the sole purpose of coordinating certain decisions in relation to the participants' stake in GAM".
GAM delays results amid potential Liontrust deal
The group said it had invested in GAM "because there is an opportunity to restore the company's reputation as a best-in-class asset management firm".
In a statement, NewGAMe said: "The group is convinced that GAM's shares are undervalued and offer significant upside to shareholders if the company can complete a successful turnaround and prioritise core businesses of ultra-high-net-worth individuals' wealth management and specialist asset management within a more efficient corporate structure.
"The group is convinced that any strategic transaction recommended by GAM's board of directors must reflect this potential."
GAM stated earlier this week that its discussions were focused on ensuring the firm is "strategically positioned in the best interests of all our stakeholders".
