7IM

AcronymDefinition
7IMSeven Investment Management (UK)
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The company will invest GBP 73.6m (USD 114.42m) from its own cash resources, with the balance of the acquisition costs being funded by a combination of GBP 25m of bank debt, equity subscription from the 7IM management team and cash on the 7IM balance sheet at completion.
As at 31 August 2015, 7IM had assets under management and administration of approximately GBP 9.4bn.
7IM is an investment management business with a particular focus on longer-term investment for individuals and institutions.
'Terence comes with considerable experience, with a background in multi-asset investing, strategy and quant research, which was almost written for this role,' said Tom Sheridan, chief executive, 7IM.
7IM had in May acquired Edinburgh-based discretionary asset manager Tcam.
The intermediate or aqueous layer is secreted by the orbital lacrimal (60%) and third eyelid glands (40%) and is the largest layer of the tear film, measuring approximately 7im. In addition to water, this layer contains electrolytes, glucose, urea, active surface polymers, glycoproteins and lacrimal proteins, including immunoglobulin A, albumin, beta-lysine, lysozyme and lactoferrin, with the three last components having antimicrobial properties (GRAHN & STOREY, 2004).
A recovery agreement clawed back pounds 7im from the companies, 54% of the aid paid out, a report from the auditor general said.
Tom Sheridan, chief executive, 7IM, said, 'Terence comes with considerable experience, with a background in multi-asset investing, strategy and quant research, which was almost written for this role.
Justin Urquhart Stewart of 7im, part of High Street brokers Killick & Co, says:
MacKenzie was previously a relationship manager at 7IM and is to be based in London.
Dependent on the date of completion, which is subject to the Financial Conduct Authority's approval, Caledonia will invest up to GBP 77m (USD 121.49m) in cash to acquire approximately 94% of 7IM Holdings Ltd the controlling member of Seven Investment Management LLP which operates the 7IM business, from its current owners, Allied Zurich Holdings Ltd and Aegon UK plc.