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US investment firm Stephens takes stake in CRUX

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CRUX Asset Management Ltd.(“CRUX”), the active equity investment manager, announces today that Stephens, one of the largest, privately-held financial services firms in the U.S., will, through a wholly owned subsidiary entity take a minority ownership stake in CRUX, subject to FCA approval. The proposed transaction will result in Stephens holding approximately 20% of CRUX share capital and new Ordinary shares will be issued to support the deal. John Stephens, who is currently a Senior Vice President with Stephens’ affiliate Stephens Inc, will join the CRUX board as a Non-Executive Director once FCA approval of the transaction has been obtained.

Stephens, which has a strong focus on family investments, private equity, asset management investment banking, wealth management, public finance and insurance brokerage, is based in Little Rock, Arkansas,with additional locations in strategic domestic markets and a European practice in the UK and Germany. Founded in 1933 the firm serves a broad range of clients, with an emphasis on long-term relationships and long-term results.

Commenting on the deal Karen Zachary, CEO at CRUX, said:

“This is a very exciting strategic step for CRUX and we are delighted to be partnering with a firm of such a high calibre as Stephens and see clear synergies between our two firms. Over the last five years, we have built a scalable platform at CRUX that has enabled us to expand our investment offering into Asia and the UK with complementary strategies that fit our plans to build a diversified range of active management strategies.”

John Stephens at the firm commented:

“We are excited to make an investment in CRUX Asset Management which, in our view, is comprised of extremely talented individuals who come together to create a cohesive and exciting team with a bright future.  We are looking forward to working with Karen and others in helping the business achieve its goal of becoming a leading, independent asset manager and the platform of choice for high quality PMs with a passion for what they do."

In September 2021, CRUX hired Citywire AAA-rated Ewan Markson-Brown and Damian Taylor, two seasoned Asia equity fund managers, to build out its Asia equity franchise. In March 2022 CRUX formed a strategic partnership with Union Bancaire Privée (UBP) to advise UBP on its Asia equity funds and mandates. In addition, UBP will provide investors in Asia with exclusive access to CRUX’s alpha-generating equity products.

Established in 2014, CRUX is an active equity investment manager with £1.7 billion assets under management. The firm’s three core equity teams focus on Europe, the UK and Asia to deliver outstanding investment performance through bottom-up, high-conviction stock selection.

Karen Zachary added:

“This new relationship strengthens our capital base and enables us to build out and grow our recently acquired UK and Asia strategies, and expand our distribution, widening access to our already well-established European strategy. Our teams are built on an ethos of collaboration, a commitment to fundamental research, and a long-term record of outperformance across equity benchmarks. We look forward to continuing to deliver the scale of performance that can only be achieved by active management with aligned investment aims to our clients globally.”



For further information, please contact Peregrine Communications:

 Marina Fraser Harris  
 +44 (0)20 30400890
 Jack Davies  
 +44 (0)20 3040 0877


Notes to Editors:

CRUX Asset Management (“CRUX”) is an active equity investment manager with £1.7bn AUM. Established in 2014, the firm’s three core equity teams focus on Europe, the UK and Asia to deliver outstanding investment performance through bottom-up, high-conviction stock selection. Each team uses proven valuation methodologies and has intimate knowledge of long-term capital growth opportunities in the specific geographies where they invest. The fund managers align investment aims with those of their global clients by investing meaningful amounts of their own assets in CRUX funds and owning equity in the


About Stephens

“Stephens” (the company brand name) is a leading family-owned investment firm comprising the businesses of investment banking, advisory, sales and trading, research, insurance and wealth management. Founded in 1933, Stephens’ US operations are headquartered in Little Rock, AR, with additional locations in strategic domestic markets and a European practice in the UK and Germany. Stephens is committed to building long-term value for corporations, state and local governments, financial institutions, and institutional and individual investors. Stephens’ affiliates include: Stephens Inc. (offers securities products; member NYSE SIPC), Stephens Investment Management Group, Stephens Insurance, LLC, Stephens Capital Partners LLC, and Stephens Europe Limited. © 2022 Stephens. For more information, visit 

Stephens Inc. is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority (Home Office: 111 Center Street, Little Rock, AR USA, 501-377-2000) and Stephens Europe Limited is authorized and regulated by the Financial Conduct Authority (Registered office 12 Arthur Street, London, EC4R 9AB, Registered number 8817024).

Media contacts at Stephens:

 Chenoa Taitt, Stephens, Inc.   
 Laura Stephens, Stephens, Inc.  


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