One of the City’s best known asset managers has accused a Wall Street private equity firm of “ram raiding” the London stock market, after the US investor pulled off an ambitious swoop for a promising Cambridge-based tech firm.
Columbia Threadneedle claims to have been blindsided by KKR’s successful $396m (£313m) move for the AIM-listed IQGeo last week, despite its 13 per cent stake in the tech firm.
“Although the financial metrics of KKR’s offer are very high, we do not believe it fully realises the long-term growth potential of IQGeo,” said James Thorne, UK equities fund manager at Columbia Threadneedle, in an interview with The Sunday Times.
The heavyweight asset management firm feels particularly aggrieved because even though the bidding process, which is being…
