US-based TA Associates mulls sale of 34% Fisher Funds stake

The Street Talk gossip column says the private equity firm has sent a request-for-proposal to a handful of investment banks including Goldman Sachs and Nomura, asking them to pitch their deal credentials and ideas for a potential sale of the firm's shareholding.

The other 66% of Fisher is owned by the New Plymouth-based Toi Foundation, the community trust which also owns 100% of TSB Bank.

Fisher Funds chief executive Bruce McLachlan said his company “does not comment on minority shareholder matters and particularly processes that may or may not result in any shareholding change.”

Toi chief executive Maria Ramsay said: “We don’t comment on media speculation.”