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Caledonia Investments PLC on Tuesday said it has sold its minority interest in Stonehage Fleming Family & Partners Ltd for cash proceeds of £288 million. The London-based trust invests in both public companies and private capital globally. It has sold its stake in Stonehage Fleming, a multi-family office which provides advisory services to ‘many of the world’s leading families and wealth creators’, to wealth management and advisory business Corient Private Wealth LLC. Caledonia said it expects to receive cash proceeds, net of transaction expenses, of £288 million from the sale. Of this, around £251 million will be received on closing with a further £37 million split across two equal tranches payable six and twelve months after closing. It said the proceeds, combined with dividends received to date, will represent a multiple on invested cost of 3.2 times. Caledonia bought its initial stake in Stonehage Fleming in July 2019. Caledonia said the proceeds will be held on deposit for future investment. At the end of March, Caledonia’s shareholding in Stonehage Fleming was valued at £221 million. The company said contingent consideration of up to a maximum of £9 million may become payable. The amount is dependent on Stonehage Fleming’s achievement of revenue growth targets over a three year period after completion. ‘In the six years since our initial investment in Stonehage Fleming in July 2019, the business has further strengthened its position as the largest independent multi-family office in [Europe, Middle East & Africa], with 20 offices in 14 countries, and it is now involved in the management, fiduciary oversight and administration of assets of over $175 billion,’ said Caledonia’s Head of Private Capital Tom Leader. Shares in Caledonia Investments were down 1.3% at 359.23 pence in London on Tuesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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