TSB Trust to take over Fisher Funds

TSB has been a shareholder since 2013 and currently has 49% of the fund manager.

It had an option to acquire the balance of the company in 2017 and has chosen to exercise that option.

It has also reached agreement to initially sell a 24.99% shareholding in Fisher Funds to TA Associates, a global growth private equity firm with funds management experience. The intention is that the TA Associates shareholding will subsequently increase to 34% following receipt of required regulatory approvals, leaving TSB group with a controlling 66% stake.

It means Carmel and Hugh Fisher sell their stake almost 20 years after founding the company.