Norris assumes full ownership of Argonaut
Barry Norris, founding partner and fund manager at Argonaut Capital is to take full ownership of the business after acquiring a passive minority stake from Standard Life Investments.
SLI had the stake following its own previous acquisition of Ignis in 2014; Ignis was previously known as Resolution, and before that Britannic Asset Management – which was one of the parties to the joint venture that established Argonaut.
Norris currently runs that Argonaut Absolute Return, European Alpha and Pan-European Alpha strategies.
Oliver Russ, who also joined Argonaut with Norris in 2005 will leave the business as the funds he runs, the Argonaut European Income and Enhanced Income, are being acquired by Liontrust. The shift of the funds to new ownership is expected to complete by June.
“We feel it is important that our Income fund unitholders can have the opportunity to remain invested with Oliver, with minimal disruption. We wish Oliver success for the future and all the best in building his income franchise on the Liontrust platform,” Norris said.
Norris added that the deal with Liontrust would leave Argonaut able to focus on the strategies that already account for the bulk of its £1.1bn AUM.
Additionally, Argonaut has named Jonathan Polin its new chairman. Polin, who is CEO at Sanlam, worked with Norris on the launch of Argonaut when he was at Britannic.
A full list of the manager’s investment professionals is available at http://www.argonautcapital.co.uk/about-us/biographies/