Advising on the launch of a transformative new wealth management acquisition business
We advised Titan Wealth Holdings on its investment and debt financing by Maven Capital Partners, Ares Management and family office, Hambleden Capital, on the launch of its new acquisition business in the UK asset and wealth management market. The new company has the ambitious target of AUM of up to £30bn within five years of its launch.
Titan will launch with two acquisitions which are expected to be completed during the second half of 2021. These are: Tavistock Wealth, a multi-asset executive with £1bn of assets for retail clients; and Global Prime Partners, which has £2bn of assets under management and provides clearing and custody services.
The acquisitive new company intends to take advantage of a fragmented market for discretionary fund managers and will drive reform in the sector, bringing fund management, administration and a technology platform all under one roof.
Consolidation within the wealth and wealth management industries is an increasing trend as those that manage money are seeking more scale to compete in a world where low interest rates and rising regulatory costs are eating into margins.
Corporate partner and head of our London office, Paul Hayward, led Gateley Legal’s advice on the acquisitions of Tavistock Wealth Limited and Global Prime Partners. He was supported by senior associate Zum Mohammed and solicitor Hannah Hogarth.
Banking partner Rick Sealy led on the debt financing for the transaction with assistance from associate Rebecca Mills.
Corporate partner Mark Halliwell led on the equity and investment aspects of the transaction with assistance from solicitor Imogen Cox.
The team commented: “We were really pleased to have advised on this significant, sector-reforming transaction which will transform the wealth and wealth management industries.”
The Titan team added: “Gateley are an excellent team who have done, and will no doubt continue to do, an excellent job for Titan. The team were driven, commercial, technical and flexible.”
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