Star Jupiter four hold £105m stake in group

Senior Jupiter managers Tony Nutt, Philip Gibbs, Edward Bonham Carter and John Chatfeild-Roberts will together own almost 14% of the group following the IPO, valuing their stake at more than £105m.

Jupiter this morning set its IPO price at 165p per ordinary share, which came in at the lower end of the 150p to 210p range it set ahead of publishing its prospectus earlier this month.

Nutt, the Jupiter Income fund manager, holds the largest individual stake in the fund group at 5.01%, worth almost £38m.

Financials specialist Gibbs and CEO Bonham Carter own 3.51% and 3.5% respectively, valued at about £26.5m each.

Chatfeild-Roberts, the CIO and head of multi-manager, has a 1.91% stake, worth more than £14.4m. In addition to his 8.7m shares, Chatfeild-Roberts has options over a further 1.56m, subject to performance conditions and exercisable between 2011 and 2014.

The managers' stakes could be worth more at admission next week, after its shares climbed to 176.25p during conditional dealings on the London Stock Exchange today.

At admission, Jupiter directors, employees and other affiliated persons will hold approximately 41% of the company's ordinary shares, most of which are subject to lock-in and vesting arrangements.

Approximately 61% of Jupiter's AUM at 31 December 2009 was managed by eight fund managers, with Nutt controlling 18% of assets. Chatfeild-Roberts' Merlin multi-manager team controls 20% of the group's AUM.