BP Marsh rules out Towergate swoop as it targets "anything that moves"
BP Marsh is targeting new investment opportunities to make use of the £29.2m generated from the sale of its 80% stake in Hyperion to General Atlantic.
However, the venture capital firm ruled out a move for Towergate, describing it as too "mature" than what it normally is interested in.
It said it had divested its stake in the broking group as the time was right “for a larger investor to take Hyperion forward to the next stage of its development”.
Brian Marsh, executive chairman at BP Marsh, said the company was interested in investing in “anything that moves”, and more specifically “financial services businesses including, but not limited to
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