L&G snaps up the rest of Cofunds

Insurer Legal & General said yesterday it would acquire the remaining 75 per cent of platform Cofunds it does not already own. The deal, which values Cofunds at £175m, will be funded by L&G’s cash reserves. L&G was advised on the deal by Fenchurch Advisory Partners and lawyers at Slaughter and May. Cofunds’ investors were advised by Evercore Partners.