Phoenix Group Holdings, the U.K.’s biggest manager of closed life insurance funds, declined by the most on record in London trading after saying it ended takeover talks with private equity firm CVC Capital Partners Ltd.
Phoenix Group Holdings Ltd., the U.K.’s biggest manager of closed life insurance funds, said Argonaut Capital Partners and Ignis Asset Management restructured their joint venture with Argonaut taking management control.
Phoenix Group Holdings Ltd. , the U.K.’s biggest manager of closed life-insurance funds, rose to the highest in more than five months in London as it announced a six-year cash flow target that beat analysts’ estimates.
Clive Cowdery has left investors with losses of 30 percent after failing to repeat the success of the strategy that won him a reputation as London’s top insurance dealmaker. He and his team still profited from management fees.
A nonprofit group that contributed $11 million to help defeat a California ballot measure aimed at raising taxes must disclose documents so that state election officials can probe where the money came from, a judge said in a tentative ruling.