Private equity business Epiris is reportedly looking to shed at least part of its stake in the merged James Hay-Nucleus business.
This is less than a year after Nucleus was sold to James Hay for £145m. Epiris acquired James Hay’s parent company in 2018 for £206m ($272m, €241m).
According to UK-based publication Financial News, Epiris is currently looking for buyers for its stake in the recently combined James Hay-Nucleus business – although the two platforms operate separately.
Epiris declined to comment on the rumoured sale, but International Adviser understands that any deal would be at shareholder level, meaning that it would be business as usual for James Hay and Nucleus’ clients and advisers.
In June 2021, the private equity firm sold Saunderson House to Rathbones for £150m, making it the third largest wealth management business in the UK.