Speaking to Delano, a spokesperson for GAM Holding affirmed, “we are pleased to confirm that we are in exclusive discussions with Carne Group.”

A spokesperson for Carne Group added, “Carne Group (Carne) can confirm it is in exclusive talks with GAM regarding the intention to transfer GAM’s fund management services business to Carne. Further due diligence is taking place and no further details are available at this time.”

Earlier on 4 May, as part of the preliminary announcement by London-based Liontrust Asset Management’s takeover bid for GAM Holding, the sale of GAM’s fund management services has been included. The .

In response to recent news articles questioning Liontrust’s offer for GAM Holding, the senior portfolio managers at GAM Investments, a division of GAM Holding, expressed their of fund management services to a third-party. In a letter, the managers affirmed their full support for this move.

Regarding Liontrust’s acquisition proposal for GAM Holding, the senior managers stated in the letter, “We find the proposed acquisition by Liontrust highly credible and fully endorse it.”

GAM Holding CEO, Peter Sanderson, commented: “We have also reached agreement in principle to transfer our third-party fund management services business in Luxembourg and Switzerland to another provider. These transactions will therefore create a global asset manager with circa CHF 60bn assets under management.”

As of 31 December 2022, the fund management services had CHF 51.8bn in assets under management.