Hellman & Friedman, a US buy-out firm, is set to purchase Gartmore with a management team led by Paul Feeney, a director of the London fund manager.
Hellman, advised by US boutique Casey, Quirk & Associates, is the only bidder left â Schroders, a rival UK fund manager, has dropped out. Hellman was one of three US private equity firms that took an interest in Gartmore. Paul Myners, former chairman, turned down requests to work with the other two, according to banking sources.
