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OSMOND HIKES PHOENIX STAKE

HUGH Osmond, the entrepreneur, has spent around £1.4m to raise his stake in the closed life funds bid vehicle Phoenix Group. After buying 212,000 shares at 640p per share, Osmond’s Sun Capital unit now owns more than 19 per cent of Phoenix, with a further 18 per cent held by private equity firm TDR. Phoenix is expected to hit the acquisitions trail next year after securing a £1bn listing on the London Stock Exchange.