Ontario Teachers' Pension Plan Board agreed to acquire an unknown majority stake in Seven Investment Management LLP (7IM) from Caledonia Investments plc for approximately £255 million on September 5, 2023. Caledonia is expected to receive cash proceeds of £255 million, net of transaction expenses, for the sale of its ordinary and preference shares in 7IM. The cash proceeds will be held on deposit for future investment. The transaction is subject to change in control approval by the Financial Conduct Authority and is expected to complete in late 2023 or early 2024.

Ollie Clayton, Demetris Efthymiou and Stephane Houpert of Evercore provided lead sell side financial advice; Stephen Drewitt of Macfarlanes provided legal advice and legal vendor due diligence; Martin Sanchez of Oliver Wyman provided commercial vendor due diligence; Andrew Cann, Stephen Jones and William Barrie of PricewaterhouseCoopers provided vendor financial due diligence; Tim Haden, James Clare of Deloitte provided tax advice and vendor due diligence; David Morrey of Grant Thornton provided regulatory and compliance due diligence; Mike Barnes & Lee O'Donnell of Tatsu Partners provided debt advice and Simon Hill of Liberty provided management advice to 7IM management shareholders & Caledonia Investments Plc. Patrick Ko, Richard Johnson,Emma Rachmaninov, Toby Bingley,Chris Davis,Aled Batey and Richard Hart of Freshfields Bruckhaus Deringer LLP acted as legal advisor to Ontario Teachers' Pension Plan Board. Nomura Securities Co., Ltd. acted as a financial advisor to Ontario Teachers' Pension Plan Board.