Another long-established UK fund manager could be bought by Hellman & Friedman, the private equity firm that already owns Gartmore.

According to reports in the Telegraph, an offer for Henderson Group is under consideration and it is believed that H&F think the two businesses would fit well.

No formal approach has been made to the Henderson board.

Henderson, which has a market capitalisation of £1.4 billion ($2.8 billion), was among the bidders that lost out to H&F for Gartmore, suggesting that the Henderson board also believes the two businesses could fit together.

Both H&F and Henderson declined to comment.