TSB exercises option to buy rest of Fisher Funds, brings in US private equity firm

Wed, 02 Aug 2017

By Paul McBeth Aug. 3 (BusinessDesk) - The TSB Community Trust, which owns New Plymouth's TSB Bank, has exercised an option to buy the rest of Fisher Funds Management for an undisclosed sum and plans to bring in US private equity firm TA Associates to take a minority shareholding. The charitable trust exercised its right to buy out its co-shareholders in New Zealand's fifth-biggest fund manager, having initially bought a 26 percent stake in 2013 for $32.8 million through TSB Bank, and later lifted that holding to 49 percent. The trust's...

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