Deal Snapshot
POLAR CAPITAL HOLDINGS TO ACQUIRE LOS ANGELES-BASED FIRST PACIFIC ADVISORS
Friday 14 February 2020

UK-based Polar Capital Holdings plc (LSE: POLR) has reached agreement to acquire Los Angeles based asset manager First Pacific Advisors, LP to build a US-based international and global equity franchise, the company said.
The material quantum of consideration for the transaction will be satisfied in the initial five years by Polar Capital delivering to FPA, from its standard 55% interest, a 25% share of the business's revenues. On the existing USD 1bn of AUM, core EPS will benefit by circa 0.5p but during the period of the FPA revenue share the benefit to total EPS will be depressed by its existence.


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Details
Date Published: 14/02/2020
Target: First Pacific Advisors
Country: USA
Sector: Banking/Financial Services
Type: LBO
Financing:
Status: Closed
Vendor:
Buyer: Polar Capital Holdings
Comment:
Terms of the deal were not disclosed

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