Caledonia to put boutique asset manager 7IM up for sale this year - reports

Caledonia Investments, the controlling shareholder of boutique asset manager 7IM, is set to put the firm up for sale in the autumn, Sky News has reported. 

City sources told the broadcaster that Caledonia, which has owned 7IM since 2015, was expected to seek a valuation of about £400m for the firm. 

Investment bank Evercore Partners has been hired to handle the selling process, although it may be postponed if market circumstances continue to be unfavourable.

In February, it emerged that Brooks Macdonald had approached Caledonia Investments late last year about a deal to acquire the company for £300m, which was rejected.

Brooks Macdonald approached controlling shareholder of 7IM for attempted takeover bid - reports

The firm is likely to remain interested in acquiring 7IM and participate in the upcoming auction, while other asset managers and private equity investors are among the other parties who will consider a deal.

Caledonia bought 7IM in a deal valued at around £100m seven years ago. Since then, 7IM has acquired Tcam Asset Management and Partners Wealth Management.