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Abu Dhabi and US joint venture RedBird IMI has sold British magazine The Spectator to hedge fund boss Sir Paul Marshall for £100 million ($131 million).
RedBird acquired the magazine last year as part of its Telegraph Media Group deal with owners, the Barclay brothers.
Marshall is co-founder of hedge fund Marshall Wace, which has $65 billion in assets under management, and is an investor in right-wing TV station GB news which was founded in 2021.
RedBird IMI is a joint venture of New York private equity firm RedBird Capital and Abu Dhabi-based company International Media Investments (IMI).
The Spectator is associated with the centre right and right wing of British politics, formerly edited by ex-Prime Minister Boris Johnson from 1999 to 2005, during the time that he served as a member of parliament (MP) in opposition during the Tony Blair-led Labour Government.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
