Published On: 7 June 2023

CRUX Asset Management is set to be acquired by Lansdowne Partners, leading to the retirement of Richard Pease, the founder of the firm and manager of the European Special Situations fund. Upon the completion of the deal, the remaining fund management team will transition to Lansdowne. This team includes Richard Penny, who heads the UK team, Ewan Markson-Brown, who leads the Asia team, as well as European team members James Milne and Roland Grender.

For some time CRUX had been seeking a long-term succession plan for Richard Pease and it was felt this acquisition provided the best fit for investors. Following the acquisition, the management of the European Special Situations and European funds will be entrusted to Daniel Avigad, a partner at Lansdowne. Pease originally launched the European Special Situations fund in 2009 while working at Henderson, and subsequently brought the fund with him to CRUX

If this affects you and you’d like to discuss our opinion on this fund and how it may or may not continue to fit your investment goals or risk tolerance, please call us on 01420 83517 or email

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