European equity boutique Argonaut Capital Partners is to become a standalone business following a restructuring of its joint venture with Ignis Asset Management. Argonaut will take management control, owning 60% under the new structure, with Ignis reducing its equity stake from 50% to 40%.
The aim is for Argonaut to be able to develop as an independent business, under a single brand and with dedicated management. Argonaut will expand its investment team and develop its own UK distribution capability, while Ignis will continue to distribute Argonaut’s hedge and long-only funds in Continental Europe.
Argonaut founders Barry Norris and