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Conning to acquire 45% stake in investment management company

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Conning to acquire 45% stake in investment management company

Conning has agreed to acquire a 45% stake in investment manager Global Evolution in a transaction expected to close in early 2018.

Following transaction closing, Global Evolution will continue to operate as an independent boutique with its founders Søren Rump and Morten Bugge to continue serving as its CEO and chief investment officer, respectively. Additionally, the company's employees will continue to hold a majority ownership interest in the company, with Conning increasing its position in Global Evolution over time.

Global Evolution has its head office in Kolding, Denmark, and offices in Zurich and New York.

Magnusson Denmark Advokatpartnerselskab served as legal adviser to Conning on the transaction. Spencer House Partners LLP served as financial adviser and Kromann Reumert served as legal adviser to Global Evolution.