Executive partners at Dalton Strategic Partnership (DSP), which runs the Melchior Selected Trust Indian Absolute Return Fund that was launched in October, are acquiring control of the firm from the Dalton family.
The executives agreed to purchase a 51.5% stake of the firm from the family of founder Andrew Dalton, who died in April 2011. The agreement is expected to be completed in February.
The Dalton family will continue to be a significant shareholder since they are retaining a quarter of equity.
The Dalton family was keen to sell the controlling stake to the executives to “incentivise” and