But Hermes Focus Asset Management could end up taking Sir James Cayzer’s side in a family feud over Caledonia Investments. The fund manager and investment trust is controlled by Cayzer Trust, the shared inheritance of one of Britain’s richest families. Sir James (the fifth baronet), a 69-year-old Scottish landowner and confidant of the queen mother, wants Caledonia restructured so that family members can sell their holdings more profitably, and he’s battling Caledonia CEO and Cayzer Trust chairman Peter Buckley - a relative. Last month Hermes acquired a stake in Caledonia, which has £850 million ($1.23 billion) in assets. Says fund manager Stephen Brown, “We will engage with management on how value can be maximized for shareholders, both the Cayzer family and institutions.” For Sir James, that could mean another Roller or two.
