Caledonia Investments has agreed to acquire a significant minority stake in Stonehage Fleming, one of the world’s leading international family offices. The exact consideration payable by Caledonia on completion will be dependent on the precise number of shares to be acquired in order to achieve the 36.7% stake, but will be approximately £92m. “Stonehage Fleming is a highly successful firm with an outstanding, award-winning proposition and a client-centric approach. The Group has a rich history and a culture of continuous innovation and adaptation and we have been impressed with the clarity of vision of their strategy, and wanted to back them as they further consolidate their leading position in the family office arena. Caledonia had a very successful investment in Robert Fleming Holdings in the decade up to its acquisition by Chase Manhattan Bank in 2000 and we are delighted to have again become involved in its successor business." Duncan Johnson, Caledonia Head of Unquoted Investments.