Private investment firm Lincoln Peak Capital has bought part of Schroders’ minority stake in independent asset manager RWC Partners.
RWC Partners has bought the rest of the minority stake.
Lincoln Peak now holds 28%, with RWC owning around 70% and the remainder in the hands of former RWC employees.
The financial terms of the deal were not disclosed.
The RWC board will be led by chairperson Peter Clarke. Five directors will be appointed by RWC and two by Lincoln Peak.
Nicky Richards will remain on the board as a non-executive director.
With offices in London, Miami and Singapore, RWC Partners is a privately-owned, independent asset management organisation with around $21bn (£16bn,€19bn) in assets under management.
Lincoln Peak Capital is a long-term equity partner for asset management firms that seek to gain or retain their independence, while making ownership changes.