Asset Management

Polen Capital strikes deal for Somerset Capital’s UK funds

A team of Somerset portfolio managers will join Polen Capital's emerging markets team in London

Somerset Capital, co-founded by Tory MP Sir Jacob Rees-Mogg, is winding down after losing a key mandate from SJP
Somerset Capital, co-founded by Tory MP Sir Jacob Rees-Mogg, is winding down after losing a key mandate from SJP Photo: Max Mumby/Getty Images

Polen Capital, the $60bn US-based investment manager, will take over the UK funds of Somerset Capital Management — the collapsed emerging-markets boutique co-founded by Conservative MP Sir Jacob Rees-Mogg.

Somerset, established in 2007, announced on 7 December that it was winding down, having lost a key mandate from UK wealth manager St James's Place that accounted for around two-thirds of its assets under management.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump