Activist investor Edward Bramson exited his investment in 3i Group Plc, Britain’s biggest publicly traded private-equity firm, reaping a 38 percent return.
F&C Asset Management Plc, which runs the U.K.’s oldest investment trust, will almost triple cost reduction plans and cut jobs as part of a strategic review under Executive Chairman Edward Bramson.
F&C Asset Management Plc Chairman Nick MacAndrew was ousted after losing an eight-week battle against activist shareholder Sherborne Investors LLC.
Activist investor Edward Bramson stepped down as chairman of British money manager F&C Asset Management Plc, two-and-a-half years after ousting his predecessor.
F&C Asset Management Plc, which oversees the U.K.’s oldest investment fund, said Chief Executive Officer Alain Grisay will step down in May.
3i Group Plc defended its strategy for turning around the company after activist investor Edward Bramson announced he boosted his stake in Britain’s oldest private-equity firm.
3i Group Plc, Britain’s oldest private-equity firm, posted a decline in the pace of asset sales and investments as activist investor Edward Bramson starts buying the stock.