5 January 2021
Management Team increases stake in Tufton Investment Management
Tufton announces the conclusion of a corporate reorganisation, with the purpose of increasing the ownership stake of senior management as part of a carefully planned leadership strategy developed over the past few years.
A new financial partner, a European family office, has acquired shares from a number of Tufton’s long standing financial shareholders in a transaction which has enabled the management team, led by Andrew Hampson (CEO) and Paulo Almeida (CIO), to acquire a substantially increased stake in the business. In addition, the new partner plans to support the growth prospects of the business by investing in future funds and investments managed or arranged by Tufton, including future capital raises by Tufton Oceanic Assets Limited.
Tufton manages $1.1bn in shipping assets across a number of funds including Tufton Oceanic Assets Limited which, as of 30 September 2020, has an NAV of $243m.
Andrew Hampson and Paulo Almeida said, “We are very pleased with the outcome of the shareholding reorganisation and having our new backer. This is the result of a carefully planned process that leaves the existing business in its current, healthy form yet improves alignment with our investor base and provides growth opportunities. We also thank the exiting shareholders for their dedication to Tufton over the years and for their support in completing this transaction.”
Tufton founder Ted Kalborg said, “Tufton is in excellent hands and with its reorganised shareholding structure is ready to take advantage of the many new growth opportunities we see in the global shipping industry. I am also very pleased that the firm’s new shareholder has requested I remain involved in the business for at least the next few years.”
Tufton Investment Management Ltd, registered in England with company registration number 1835984. Registered office: 1 Albemarle Street, London, W1S 4HA.
Tufton, authorised and regulated by the FCA, is an investment manager with a focus on the maritime and energy markets since 2000.