Troy AM sells minority stake to US firm in bid to increase employee equity participation

investmentweek.co.uk:

Troy AM was established in 2000 by CIO and founder Sebastian Lyon and the late Arnold Weinstock.

The shares have been acquired by the private company from non-management shareholders, including the Weinstock family, who are part of the founders of the asset manager.

Troy AM was established in 2000 by CIO and founder Sebastian Lyon and the late Arnold Weinstock.

The firm said the agreement will increase direct equity ownership in the business held by employees and management, to accomplish firm's «long-desired» objective of increasing equity participation among its employees.

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Boston-based Lincoln Peak was founded in 2008 by Seth Brennan and Tony Leness, and specialises in making long-term, minority investments in «high quality» asset managers.

The firm said it aims to facilitate ownership transitions in a way that «aligns the interests of a firm's key constituents and positions it for long-term stability and success».

Troy's Lyon said: «I believe that Lincoln Peak will be excellent partners for the next stage of Troy's development. Their long experience in asset management means that they really understand our business and in the time that this process has taken we have already worked successfully together — particularly in planning how equity participation amongst Troy's employees will continue to increase.

»The culture of our two businesses is very complementary and my colleagues and I look forward to working with Seth, Tony and their team in the years to come."

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The firms added that there will be no changes to Troy's management team or investment process following the