The break-up of New Star Asset Management is set to begin this week with a management buyout of the beleaguered fund manager’s institutional business.
TheMail on Sunday reports that the buyout is being led by Mark Beale and Richard Lewis, head and deputy head of New Star’s institutional fund management arm.
Beale and Lewis are understood to have taken more than £3.2bn of assets with them.
John Duffield is believed to be about to leave the company he now runs as soon as the break-up is complete.
The Mail on Sunday 14/12/08 page 50
