Jun 23, 2021
Morrisons investor Silchester pays £110m to 17 partners
The 17 partners at Silchester International Investors, the low profile London-based asset manager that will help decide the fate of UK grocer Wm Morrison, shared a £110m payout last year, according to its latest accounts. Despite the impact of the pandemic on the asset manager, 17 working members - or partners - of the group, including key managers such as Butt, enjoyed £110.8m in profit allocations for the year, compared with £117m a year earlier, the accounts show. Michael Cowan, an ex-Morgan Stanley banker who also co-founded the business, and Timothy Linehan, a director, also took a share of a £42.6m dividend paid by Silchester Partners, the overall parent company of various Silchester arms. The asset manager takes chunky stakes of up to a fifth of a company's shares and invests internationally, but not in the US. It is a large investor in several UK companies including rival asset managers Jupiter and Man Group, as well as publisher Pearson. As well as owning the majority of SII, Silchester Partners has stakes of between 48.6 and 49.9 per cent in nine other private asset managers.
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