On 18 July 2023, NewGAMe SA announced the launch of its partial cash tender offer for up to 28,000,000 shares of SIX-listed GAM Holding AG. NewGAMe SA is part of the NewGAMe-Bruellan investor group that holds a substantial stake in GAM. NewGAMe is majority held by Rock Investment, a company controlled by Mr. Xavier Niel. The prospectus for the partial tender offer was published on 17 August 2023.