Tag Archives: Wealth Management

CVC, Nordic Capital and ADIA complete acquisition of Hargreaves Lansdown to accelerate and enhance its transformation plan and deliver on its growth potential

CVC Capital Partners

ADIA PED) announce the completion of the acquisition of Hargreaves Lansdown and the subsequent delisting of the Company from the London Stock Exchange.

Hargreaves Lansdown is the UK’s market leading platform for retail investors with an impressive position and strong purpose in the attractive UK wealth market.

The Consortium is motivated by Hargreaves Lansdown’s mission to make it easier for people in the UK to find their financial freedom. Hargreaves Lansdown’s goal is to give more retail investors access to the tools, information and services required to make sound investment decisions, combined with a transparent approach and good value. The Consortium intends to continue investing in improving the client proposition and the customer experience, and will use Hargreaves Lansdown’s scale and experience to continue innovating and developing new features and services to help its customers achieve better outcomes and great value.

On behalf of the Consortium, Pev Hooper, Managing Partner at CVC, Emil Anderson, Partner at Nordic Capital Advisors and Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said: “Hargreaves Lansdown has an important purpose: to make it easy for people to save and invest for a better future. Over the 40 years since it was founded, Hargreaves Lansdown has built a strong and trusted brand, underpinned by high levels of customer loyalty and advocacy. The Consortium brings extensive experience in supporting businesses undergoing transformation, and its members have strong track records of investing in regulated financial services companies to build better businesses and create better customer experiences. We look forward to partnering with Hargreaves Lansdown’s management to accelerate its transformation plan – including investment in technology infrastructure, digital channels and service enhancement – all with client value, service, speed of innovation, and Hargreaves Lansdown’s clear purpose at the core.”

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Motive Partners and Apollo Launch Lyra Client Solutions

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Apollo logo
Lyra Provides End-to-End Client Services Across Institutional and Wealth Channels
Former Advent International CFO Eileen Sivolella joins as Board Chair and Independent Director

New York, March 6, 2025 – Motive Partners (“Motive”), a specialist private equity firm focused on financial technology, and Apollo (NYSE: APO) today announced the launch of Lyra Client Solutions Holdings, LLC (“Lyra”). A spin-out from Apollo’s client services division, Lyra offers a differentiated client-servicing solution, delivering technology and operations capabilities that enhance efficiency and the client experience in both the institutional and wealth channels. Motive and Apollo have both invested capital in the new company to support the stand-up and commercialization of the business.

Private markets continue to see rapid growth fueled by product innovation, shifting portfolio allocations and a growing investor base. In meeting this demand, alternative asset managers are expected to not only deliver top-tier investment products and returns, but to also uphold superior service levels that are increasingly difficult to sustain amid cost and efficiency pressures. As a standalone client service solutions business, equipped with leading operations talent supported by next-generation technology, Lyra provides scalable, white glove services that investors demand, including pre-trade, onboarding, and post-trade capabilities.

As part of the launch of the new company, Eileen Sivolella has joined Lyra as the Board’s Chair and Independent Director. Most recently, Sivolella served as Managing Director and Global Chief Financial Officer of Advent International, a private equity firm with $90 billion in assets under management, from 2009 until her retirement in 2022. Prior to Advent, she was the Global Chief Financial Officer of Bain Capital and served on the firm’s key committees, including the valuation, operational audit, and compensation committees. Before that, she was a Partner at Deloitte and a founder of its private equity practice in New York.

Scott Kauffman, a Founding Partner and Head of the Investment Team at Motive Partners, commented, “We believe Lyra is a foundational component of private markets in both the institutional and wealth channels. As private market investments continue to grow, alternative asset managers will need to maintain operational excellence and scale using technology. Investments in companies such as Lyra help create a network that makes Motive’s portfolio companies well-positioned to deliver compelling value to asset managers, wealth managers and their clients.”

Stephanie Drescher, Partner and Chief Client & Product Development Officer at Apollo, added, “Investors continue to turn to private markets as they seek excess return per unit of risk and greater diversification than what has historically been offered by traditional portfolio construction. Amid this growing demand, Apollo is committed to ensuring the client experience keeps pace. Lyra is a testament to that commitment, providing a technology-enabled, best-in-class experience for institutional, wealth, and family office investors.”

Neil Cochrane, a Partner on the Investment Team at Motive Partners, added, “The investment in Lyra is another step towards digitizing and scaling private markets. Our goal is to make private market investments as accessible and serviceable as public securities through advancements in technology and specialist operational offerings like Lyra. Technology will empower investors to have greater access to private markets, while Lyra enables asset managers to scale efficiently and effectively. At Motive Partners, we continue to define, and invest in, the next era of wealth and asset management.”

About Motive

Motive Partners is a specialist private equity firm with offices in New York City, London and Berlin, focusing on growth equity and buyout investments in software and information services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. Motive Ventures is the early-stage investment arm of Motive Partners, focused on pre-seed through to Series A financial technology investments in North America and Europe. For more information, please visit www.motivepartners.com

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

For more information, please visit motivepartners.com.

Contact Information
Apollo

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
+1 212 822 0540 | IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
+1 212 822 0491 | Communications@apollo.com

Motive Partners

Britt Zarling
Head of Marketing and Communications
+1 414 526 3107 | Britt.Zarling@motivepartners.com

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Rise Growth Partners Acquires Minority Stake in Grimes & Company to Accelerate Growth and Geographic Expansion

Charlesbank

Partnership aims to strengthen planning structure, expand firmwide expertise and enhance national presence

AUSTIN, TX — February 19th, 2025 – Rise Growth Partners (‘Rise’), the wealth management industry’s first synergistic financial partner for growth-oriented registered investment advisors (RIAs), today announced its second strategic minority investment, backing Grimes & Company, LLC (‘Grimes’). A full-service, family-owned and operated wealth management firm with around $5.7 billion in assets under management (AUM), Grimes serves approximately 3,000 households nationwide and has built a heritage of growth through its thoughtful, high-touch approach to financial planning and investment management. This partnership will help fuel Grimes’ continued momentum, enabling the firm to deliberately expand its geographic presence, further refine its centralized planning process and attract growth-focused advisor teams and firms.

“We’ve always believed that growth should be intentional, and this partnership is the next step in executing on that vision,” said Kevin Grimes, CEO and Chief Investment Officer at Grimes. “The Rise team immediately understood the scalability of our business, the uniqueness of our model and our exciting vision for the future. With their expertise and resources, we’ll be positioned to multiply our impact while maintaining the collaborative culture and relationship-driven client experience that have defined Grimes and its success to date.”

Founded by Timothy (Tim) Grimes and now led by son Kevin Grimes, the eponymous firm has built a reputation for centralized planning and investment strategies that scale without sacrificing personalization. With presence in Massachusetts, Texas, Florida and Nebraska, Grimes has already expanded beyond its New England roots and is now poised to accelerate its footprint in select areas. This trajectory of growth, alongside its dedication to providing independent, client-focused financial planning, has earned the firm recognition among Barron’s Magazine Top 100 Independent Advisors, Barron’s Magazine Top 1,200 Advisors State by State and Financial Advisor Magazine’s Top Independent RIA Firms.

“Grimes has built an incredible business by delivering truly bespoke investment portfolios at scale, something rare in an industry dominated by model-driven approaches,” said Joe Duran, Managing Partner at Rise. “We see a tremendous opportunity to partner with investment-centric firms that value centralized planning and growth while maintaining the flexibility of customized portfolios. Our goal is to help Grimes realize its potential of becoming a lighthouse brand in the industry, expanding its national presence by attracting like-minded teams who share this commitment to excellence.”

Grimes added: “This partnership allows us to build something even more special, enabling us to become a magnet for top talent and remain an industry leader for years to come. For our clients, it means even more resources, expanded expertise and enhanced planning capabilities, all while maintaining the same hands-on approach they value. For our advisors, it means greater access to best-in-class technology, additional investment and planning support and a strategic growth partner that allows them to better serve their clients. We are not sacrificing our independence or culture; we are enhancing it.”

“Great wealth management is not just about numbers—it’s about vision, strategy and an unwavering commitment to clients’ success,” said Terri Kallsen, Managing Partner at Rise. “The Grimes team embodies all three, turning financial goals into lasting legacies.”

Rise, backed by a strategic investment commitment from Charlesbank Capital Partners (‘Charlesbank’), was created to empower growth-oriented RIAs with the resources, expertise and capital they need to accelerate growth without ceding control. Unlike many traditional strategic acquirers, Rise partners with firms that want to scale while preserving their culture, independence and client-first philosophy.

For more information on Rise and its innovative approach to building the next generation of RIAs, visit risegrowth.com. To learn more about Grimes and its acclaimed team of advisors, visit grimesco.com.

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Radiant makes acquisition of Seven Bridges

Apiary Capital

Radiant Financial Group, Apiary Capital’s rapidly expanding wealth management consolidator, has acquired Seven Bridges, an independent financial advisor (IFA) headquartered in Newcastle.

 

This strategic acquisition significantly extends Radiant’s presence across Northern England and marks the ninth bolt-on since Apiary’s investment in November 2020. Radiant has grown substantially, both organically and through acquisitions including CBK, the Swansea-based IFA acquired in August 2024. The group now has 143 team members operating out of ten offices across the UK, with assets under advice of £1.8 billion.

 

“We are thrilled to welcome Seven Bridges to the Radiant Financial Group,” said Simon Cogman-Hellier, CEO of Radiant. “Seven Bridges is a successful and well-established firm, and brings a wealth of expertise and talent to our group.”

 

Thomas Alldred, Investment Director at Apiary, added: “We are immensely proud of Radiant’s development and look forward to continuing to support its impressive growth.”

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Envestnet, Leading Wealth Technology Platform, Announces $4.5 Billion Take-Private Transaction With Bain Capital

BainCapital

Envestnet, Leading Wealth Technology Platform, Announces $4.5 Billion Take-Private Transaction With Bain Capital

BERWYN, Pa. – July 11, 2024 – Envestnet, Inc. (NYSE: ENV) (“the Company” or “Envestnet”), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that it has entered into a definitive agreement to be acquired by Bain Capital in a transaction valuing the Company at $4.5 billion ($63.15 per share). Reverence Capital also agreed to participate in the transaction. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors have committed to invest in the proposed transaction, and upon its completion they will hold minority positions in the private company.

Envestnet manages over $6 trillion in assets, oversees nearly 20 million accounts, and enables more than 109,000 financial advisors to better meet client financial goals with one of the most comprehensive, integrated platforms delivered at scale in a unified, engaging digital experience. The Company has had great success enhancing the advisor and investor experience, and currently supports over 800 asset managers on its Wealth Management Platform.  Envestnet was recently recognized by the 2024 T3/Inside Information Advisor Software Survey as a leader in Financial Planning, Portfolio Management, TAMP and Billing Solutions — reinforcing the strength, depth and breadth of its industry-leading Wealth Management Platform and commitment to supporting advisor growth and productivity through its deeply connected ecosystem.

“The Board and its advisors conducted a process to maximize value for shareholders,” said Jim Fox, Board Chair and Interim CEO of Envestnet. “I’m proud of what Envestnet has achieved over the years in becoming the leading wealth management platform in the industry.”

“Through its deeply connected ecosystem and innovative technology and data capabilities, Envestnet has built an industry-leading platform that the largest wealth management firms, RIAs and broker-dealers rely on to power their businesses,” said Phil Loughlin, a Partner at Bain Capital. “We look forward to working with Envestnet’s talented and experienced leadership team and supporting their growth strategy through organic and inorganic initiatives, making further investments in its differentiated product offering, and delivering enhanced value to customers and partners,” added Marvin Larbi-Yeboa, a Partner at Bain Capital.

“Given Envestnet’s scale and competitive advantages in an industry that benefits from strong fundamental tailwinds, we believe the Company is strategically positioned to achieve its next phase of growth,” said Milton Berlinski, Co-Founder and Managing Partner at Reverence Capital Partners.

“This is a validation of Envestnet’s proven ability to operate at market-leading scale – serving more assets, accounts, and advisors and effectively connecting our company and our technology,” said Tom Sipp, EVP Business Lines of Envestnet. “This is an exciting new chapter for Envestnet, our clients, our partners and our employees. Together with Bain Capital, we are committed to investing in our platform making it more customized, connected, and intelligent. As a private company, we can accelerate our ability to further elevate our market-leading platform with greater functionality and an even broader solution set that enables advisors to better serve clients at all stages of their financial life.”

“This is a great outcome for Envestnet’s clients and employees, and one that maintains its entrepreneurial spirit,” said Bill Crager, Co-founder of Envestnet. “Envestnet is exceptionally well positioned to continue to build a gateway to the future of financial advice. I couldn’t be more excited about the company going forward, its continued success and ability to serve more advisors – enabling them to deliver more holistic financial advice.”

Transaction Details
Under the terms of the agreement, which has been unanimously approved by the Envestnet Board of Directors, Envestnet shareholders  will receive $63.15 in cash for each share of common stock they own. The transaction is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions, including receipt of approval by Envestnet’s shareholders and required regulatory approvals. Upon completion of the transaction, Envestnet’s common stock will no longer be publicly listed, and Envestnet will become a privately held company.

Advisors
Morgan Stanley & Co. LLC is acting as exclusive financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to Envestnet.

J.P. Morgan Securities LLC is acting as lead financial advisor, and Ropes & Gray LLP is acting as legal counsel to Bain Capital.

RBC Capital Markets, BMO Capital Markets, Barclays, and Goldman, Sachs & Co. LLC provided committed debt financing for the transaction and financial advisory services to Bain Capital.  Funds managed by Ares Management, funds managed by Blue Owl Capital and Benefit Street Partners also provided committed debt financing for the transaction.

About Envestnet
Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than $6 trillion in platform assets—more than 109,000 advisors, 17 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs — thousands of companies, depend on Envestnet technology and services to help drive business growth and productivity, and better outcomes for their clients.  Data as of 3/31/24.

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@ENVintel).

About Bain Capital
Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate, life sciences, insurance, and other strategic areas of focus. The firm has offices on four continents, more than 1,750 employees and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com.

About Reverence Capital Partners
Reverence Capital Partners is a private investment firm focused on three complementary strategies: (i) Financial Services-Focused Private Equity, (ii) Opportunistic, Structured Credit, and (iii) Real Estate Solutions. Today, Reverence manages in excess of $10 billion in AUM. Reverence focuses on thematic investing in leading global Financial Services businesses. The firm was founded in 2013, by Milton Berlinski, Peter Aberg and Alex Chulack, after distinguished careers advising and investing in a broad array of financial services businesses. The Partners collectively bring over 100 years of advisory and investing experience across a wide range of Financial Services sectors.

Forward-Looking Statements
This press release contains, and the Company’s other filings and press releases may contain forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements give the Company’s current expectations relating to the Company’s financial condition, results of operations, plans, objectives, future performance and business including, without limitation, statements regarding the transaction and related transactions, the expected closing of the transaction and the timing thereof, and as to the financing commitments. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, the Company.

Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and uncertainties, including: (i) the risk that the transaction may not be completed on the anticipated terms in a timely manner or at all, which may adversely affect the Company’s business and the price of Envestnet’s common stock; (ii) the failure to satisfy any of the conditions to the consummation of the transaction, including the receipt of certain regulatory approvals and the approval of the Company’s stockholders; (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the agreement, including in circumstances requiring the Company to pay a termination fee; (iv) the effect of the announcement or pendency of the transaction on the Company’s business relationships, operating results and business generally; (v) risks that the transaction disrupts the Company’s current plans and operations (including the ability of certain customers to terminate or amend contracts upon a change of control); (vi) the Company’s ability to retain, hire and integrate skilled personnel including the Company’s senior management team and maintain relationships with key business partners and customers, and others with whom it does business, in light of the transaction; (vii) risks related to diverting management’s attention from the Company’s ongoing business operations; (viii) unexpected costs, charges or expenses resulting from the transaction; (ix) the ability to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the transaction; (x) potential litigation relating to the transaction that could be instituted against the parties to the agreement or their respective directors, managers or officers, the effects of any outcomes related thereto; (xi) the impact of adverse general and industry-specific economic and market conditions; (xii) certain restrictions during the pendency of the transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xiii) uncertainty as to timing of completion of the transaction; (xv) risks that the benefits of the transaction are not realized when and as expected; (xvi) legislative, regulatory and economic developments; (xvii) those risk and uncertainties set forth under the headings “Forward Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”), as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the Company with the SEC from time to time, which are available via the SEC’s website at www.sec.gov; and (xviii) those risks that will be described in the proxy statement that will be filed with the SEC and available from the sources indicated below.

The Company cautions you that the important factors referenced above may not contain all the factors that are important to you. These risks, as well as other risks associated with the transaction, will be more fully discussed in the proxy statement that will be filed with the SEC in connection with the transaction. There can be no assurance that the transaction will be completed, or if it is completed, that it will close within the anticipated time period. These factors should not be construed as exhaustive and should be read in conjunction with the other forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place significant weight on any of our forward-looking statements. You should specifically consider the factors identified in this communication that could cause actual results to differ. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect the Company.

Additional Information and Where to Find It
This communication is being made in connection with the transaction. In connection with the transaction, the Company plans to file a proxy statement and certain other documents regarding the transaction with the SEC. The definitive proxy statement (if and when available) will be mailed to shareholders of the Company. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT THAT WILL BE FILED WITH THE SEC (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. Shareholders will be able to obtain, free of charge, copies of such documents filed by the Company when filed with the SEC in connection with the transaction at the SEC’s website (http://www.sec.gov). In addition, the Company’s shareholders will be able to obtain, free of charge, copies of such documents filed by the Company at the Company’s website (https://investor.envestnet.com/). Alternatively, these documents, when available, can be obtained free of charge from the Company upon written request to the Company at 1000 Chesterbrook Boulevard, Suite 250, Berwyn, Pennsylvania, 19312.

Participants in Solicitation
The Company, its respective directors and certain of its executive officers may be deemed to be “participants” (as defined under Section 14(a) of the Securities Exchange Act of 1934) in the solicitation of proxies from shareholders of the Company with respect to the potential transaction. Information about the identity of Company’s directors is set forth in the Company’s proxy statement on Schedule 14A filed with the SEC on April 5, 2024 (the “2024 Proxy”) (and available here). Information about the compensation of Company’s directors is set forth in the section entitled “Director Compensation” starting on page 23 of the 2024 Proxy (and available here) and information about the compensation of the Company’s executive officers is set forth in the section entitled “Executive Compensation|” staring on page 32 of the 2024 Proxy (and available here). Transactions with related persons (as defined in Item 404 of Regulation S-K promulgated under the Securities Act of 1933) are disclosed in the section entitled “Related Party Transactions” starting on page 20 of the 2024 Proxy (and available here).

Information about the beneficial ownership of Company securities by Company’s directors and named executive officers is set forth in the section entitled “Security Ownership of Management” on page 84 of the 2024 Proxy (and available here) and in the section entitled “Security Ownership of Certain Beneficial Owners” starting on page 85 of the 2024 Proxy (and available here).

Additional information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be included in the definitive proxy statement relating to the transaction when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov and the Company’s website at https://investor.envestnet.com/.

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Ardian acquires a stake in Groupe Orion to support the company’s growth strategy, alongside its founders

Ardian

Ardian, a world-leading private investment house, announces that it is acquiring a stake in Groupe Orion, one of the major players in wealth management in France, alongside the two founders and the management team. Siparex ETI, a shareholder of Groupe Orion since 2022, is selling its entire stake.

The aim of this new investment is to strengthen the company’s structure to support its growth and accelerate its consolidation strategy, and to support the development of new digital tools and the expansion of its product range.

Founded in 2009 and headed by Manuel Parent and Emmanuel Angelier, the Orion Group manages over €3.3 billion in assets. The Group stands out for its hybrid model. Its offering includes a multi-service platform providing access to a vast range of products dedicated to wealth management professionals, as well as a network of over 30 wholly owned independent financial advisor firms. The strong growth of Orion’s assets under management on its platform reflects the quality of the services provided to its distribution and insurance partners. This is made possible, in part, by Canopia, the in-house digital solution developed by Orion with the support of Siparex ETI. Thanks to this unique positioning in a buoyant market, the Orion Group now has over 470 distribution partners and 30,000 individual customers.

Alongside the founders and management team, Ardian will support the Group in structuring and enhancing its product and service offering, to accelerate its organic growth. The company’s growth already far outstrips the market average and is underpinned by a resilient business model characterized by recurring revenues, as well as by its long-standing, trust-based relationships with leading insurers and distribution partners. Ardian will also contribute to further strengthening the Group’s position in the French savings products distribution market, where business is also growing steadily, by actively supporting its external growth strategy already underway with 29 acquisitions since 2021.

The transaction remains subject to regulatory approvals.

“We are delighted to become the Orion Group’s new partner. The Group, led by two talented entrepreneurs, has enjoyed impressive growth thanks to a model that is unique in the market. We look forward to putting Ardian’s resources, experience and networks at their disposal to accelerate the Group’s growth and help them consolidate Orion’s leadership in its sector.” Stéphan Torra, Managing Director Expansion, Ardian

“Since its creation, the Orion Group’s track record has been remarkable. We are delighted to be beginning a new chapter alongside the founders, enabling the company to optimise its structure and further accelerate its organic growth and acquisitions strategy. We will also be supporting the company’s operational development, with the creation of new services and the expansion of its product range.” Marie-Arnaud Battandier, Managing Director Expansion, Ardian

“We are proud to welcome Ardian to the Orion Group and look forward to their support as we continue to grow and develop the company into a leader in the wealth management market. Ardian’s knowledge and vision of the market will enable us to continue to grow, for the benefit of our customers and partners.” Manuel Parent and Emmanuel Angelier, CEOs and Presidents, Groupe Orion

“We are proud to have taken part in Orion’s first capital injection two years ago, and to have supported its managers, Manuel Parent and Emmanuel Angelier, in accelerating the group’s growth, which has now become a benchmark platform for wealth management.” Thibaud De Portzamparc and Guillaume Rebaudet, Partners, Siparex ETI

LIST OF PARTICIPANTS

  • PARTICIPANTS

    • GROUPE ORION: MANUEL PARENT, EMMANUEL ANGELIER
    • EXPANSION ARDIAN: STÉPHAN TORRA, MARIE ARNAUD-BATTANDIER, DAVID CAHUZAC, PIERRE PESLERBE, BADR M’HAIDRA
    • SELLERS: SIPAREX ETI: THIBAUD DE PORTZAMPARC, GUILLAUME REBAUDET, THOMAS OILLIC, CAROLINE JACQUET

  • BUYER ADVISORS

    • M&A LAWYERS: HOGAN LOVELLS (STÉPHANE HUTEN)
    • TAX ADVICE LAWYERS: HOGAN LOVELLS (LUDOVIC GENESTON)
    • LAWYERS FINANCING: PAUL HASTINGS (OLIVIER VERMEULEN, TEREZA COURMONT VLORA)
    • STRATEGIC DUE DILIGENCE: KEARNEY (DANIEL DADOUN, ALBÉRIC FISCHER)
    • FINANCIAL DUE DILIGENCE: EIGHT ADVISORY (EMMANUEL RIOU, GUILLAUME HEBERT)
    • LEGAL, TAX AND SOCIAL DUE DILIGENCE: HOGAN LOVELLS (STÉPHANE HUTEN, MAXIMILIEN ROLAND)
    • DIGITAL DUE DILIGENCE: AKVIZE (MICKAEL MAINDRON), ARTEFACT (JÉRÔME PETIT)
    • INSURANCE DUE DILIGENCE: FINAXY (DÉBORAH HAUCHEMAILLE)

  • ADVISORS TO SELLERS, COMPANIES, MANAGEMENT

    • M&A ADVISOR: FIG PARTNERS (CHRISTOPHE MUYARD, YOUNES SEDDIKI, BAPTISTE FALGOUX)
    • M&A LAWYERS: MCDERMOTT WILL & EMERY (GRÉGOIRE ANDRIEUX, HERSCHEL GUEZ, AURIANE TOURNAY)
    • FINANCING LAWYERS: WILLKIE FARR & GALLAGHER (IGOR KUKHTA)
    • FINANCIAL DUE DILIGENCE: EIGHT ADVISORY (GUILLAUME CATOIRE, GUILLAUME CHAVAGNAT)
    • PUBLIC ACCOUNTANT: ROSSIGNOL ET ASSOCIÉS (BERTRAND GAGNEUX, PRISCILLIA BOISSINS)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT SIPAREX

An independent French private equity specialist, the Siparex Group has assets under management of €3.7 billion. With strong organic growth and significant acquisitions, Siparex is a group at the service of business development and transformation. From start-ups to ETIs, it finances and supports major entrepreneurial adventures through its various business lines: Private Equity (Tilt, Entrepreneurs, Territoires, Midcap, ETIs), Venture Capital (XAnge), and Private Debt.
The Group has a strong local presence, with 6 offices in France (Paris, Lyon, Nantes, Lille, Strasbourg and Toulouse), 3 in Europe (Milan, Berlin and Brussels) and partnerships in Africa and North America.

www.siparex.com

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Bain Capital Credit Provides Financing to Support Investment in Congress Wealth Management by Audax Private Equity

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Bain Capital Credit Provides Financing to Support Investment in Congress Wealth Management by Audax Private Equity

BOSTON – July 5, 2023 – Bain Capital Credit today announced that the firm’s Private Credit Group acted as sole lender and administrative agent for a senior credit facility to support Audax Private Equity’s strategic investment in Congress Wealth Management (“Congress”), an independent registered investment advisor offering wealth management and investment advisory services to high-net-worth individuals and families in the U.S.  Terms of the credit facility were not disclosed.

 

Headquartered in Boston and founded in 2009, Congress provides innovative and tailored wealth management and financial planning solutions for high-net-worth (“HNW”) individuals, foundations and endowments, and family offices.  The firm has experienced strong growth in recent years through new client acquisition and M&A.  With over $5 billion of assets under management today, Congress serves approximately 2,300 HNW and family office clients out of seven offices across the U.S.

 

“Congress is a high-quality RIA firm with a differentiated platform and unique value proposition, and we believe the business is well-positioned to capitalize on attractive growth opportunities in today’s diverse, fragmented wealth management market,” said June Huang, a Director at Bain Capital Credit.  “We appreciate the rapport we have built with the Audax team over the years and look forward to a successful continued partnership as we support their plans for Congress’ next chapter of growth and value creation.”

 

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About Bain Capital Credit, L.P.

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $43 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 95 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific.  In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

 

 

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IK Partners invests in Cinerius Financial Partners alongside Summit Partners and Management

IK Partners

Zug, Monday, 3 July 2023

Cinerius Financial Partners (“Cinerius”, “Cinerius Group” or “the Company”), a leading independent wealth management platform, today announced a majority investment from IK Partners (“IK”). IK is investing from its IK IX Fund and existing investor, Summit Partners, as well as the Cinerius management team are reinvesting significantly as part of the transaction. Financial terms of the transaction are not disclosed.

Founded in 2021 and headquartered in Zug, Switzerland, Cinerius is a leading platform for independent wealth managers (“IWMs”) from German-speaking European regions. The platform currently includes seven partner businesses, each of which offers a range of wealth management solutions, including opportunities to invest in proprietary funds and access advisory services. Cinerius partner businesses include: B&K Vermögen; BV & P Vermögen; Entrepreneur Partners; Habbel, Pohlig & Partner Vermögensverwaltung; KSW Vermögensverwaltung; Ringelstein & Partner Vermögensbetreuung; and VM Vermögens-Management.

Through its partner companies, the Cinerius Group manages assets for over 5,500 clients. With 13 locations and more than 140 employees across Germany and Switzerland, Cinerius collectively manages over 10 billion CHF of assets.

In the two years since Cinerius was founded, it has gone from strength-to-strength, seeking to promote the growth of its IWMs by offering strategic advice and access to a range of middle-office and back-office functions. The platform enables the provision of HR-related services as well as support in areas such as hiring, compliance, digital marketing and new customer acquisition. With IK joining as a majority shareholder, the Company aims to solidify its position as a leading wealth management platform by pursuing organic growth initiatives, investing in its people and technology and growing its group of partner businesses through a dedicated M&A strategy.

Christoph Lieber, CEO at Cinerius Financial Partners, said: “We look forward to the next chapter in our journey, drawing on IK’s extensive experience in the financial services sector. We believe that the IK team can help us realise our ambitions to further strengthen our position in the IWM marketplace through both organic and inorganic growth. We are grateful to have had the support of Summit Partners over the last two years and are pleased to see them reinvest in our dynamic company.”

Mirko Jablonsky, Partner at IK Partners and Advisor to the IK IX Fund, said: “We have been impressed with Cinerius’ track record to date and its ability to attract high-performing, complementary partner businesses to the platform. Within a short period of time, Cinerius has developed into the preeminent consolidation platform in a fragmented market in the DACH region, offering both growth support as well as succession solutions to IWMs. With a comprehensive range of services, Cinerius has exciting growth potential, which we aim to unlock during our partnership in the coming years. We look forward to working with Chris and his team, while continuing to draw on the expertise of Summit Partners, to develop the Company further.”

Johannes Grefe, Managing Director at Summit Partners, commented: “We have been fortunate to partner with ambitious and passionate partner businesses and work with an experienced Cinerius team these last few years. The Company has grown meaningfully since our initial investment in 2021 and today is a clear a market leader in the DACH wealth management industry. We are inspired by the hard work and commitment of the Cinerius team and our partner businesses and we are confident that with our continued support and the additional experience of our new partners at IK, the Company will continue to deliver on its ambitious growth strategy.”

Completion of the transaction is subject to competition authority approvals.

For further questions, please contact:

Cinerius Financial Partners
Goodkom Communications
Ari Dorbert
Phone: +49 172 9908632
ad@goodkom.de

IK Partners
Vidya Verlkumar
Phone: +44 7787 558 193
vidya.verlkumar@ikpartners.com

Summit Partners
Meg Devine
Phone: +1 617 824 1047
mdevine@summitpartners.com

About Cinerius Financial Partners

Headquartered in Zug, Switzerland, the company forms a group of reputable independent wealth managers from German-speaking European regions. To date, Cinerius and the group employ 140 people across 13 locations. Cinerius seeks to promote a higher growth dynamic by offering resources at scale and strategic support to partner businesses while allowing leaders to maintain operational independence. For more information, visit www.cinerius.com

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About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $36 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn

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Söderberg & Partners raises new capital to support further international expansion

KKR
  • Takes in an additional EUR 200 million from minority owner KKR

Söderberg & Partners has agreed to close a new share issue, raising approximately 200 million EUR (2,3 billion SEK). The new growth investment is being provided by KKR, an existing minority investor since 2019. Following the new share issue, Söderberg & Partners will continue to be controlled by its founders and supported by its two significant minority shareholders, global investment firm KKR and private equity firm TA Associates.

The new capital will used to facilitate and support Söderberg & Partners’ ongoing expansion across all its current markets, with a particular focus on building upon its recent entry into Spain and the UK.

Gustaf Rentzhog, CEO and co-founder of Söderberg & Partners says: “We have just established Söderberg & Partners in the UK, a 10 trillion GBP wealth management market. We are confident, that with our technology and our partnership model, we are bringing a competitive offer that will fill a gap in the current market and help improve both efficiency and quality for the advisers that chooses to partner with us.”

He then continues: “Söderberg & Partners also recently entered the Spanish market and, through a number of acquisitions, we have already become one of the largest insurance intermediaries in the country. Our aim is continue on this journey and become one of the leading players in this market within the coming years”.

Hans Arstad, Managing Director leading KKR’s European private equity activities across the Nordic region, comments: “Söderberg & Partners has more than doubled in size since our initial investment in 2019 and we are pleased to make a significant new investment behind this exceptional team and platform. We believe there is enormous potential for Söderberg & Partners to accelerate its growth in UK, Spain and the rest of Europe by continuing to invest in building its differentiated suite of technology-enabled services and pursuing strategic M&A with leading players in key growth markets.

KKR is making the additional investment primarily through its European Fund V. The firm has an established track record in the Nordic region, having invested over 6 billion EUR in equity since 2007 and strengthening its presence and growth ambitions in the region with the opening of a new office in Stockholm, Sweden in June 2021.

For more information, please contact:

Rasmus Löwenmo Buckhöj, Head of Information, Söderberg & Partners Group
Rasmus.LowenmoBuckhoj@soderbergpartners.se
+4676 149 50 05

For KKR Nordics:
Ludvig Gauffin, Fogel & Partners
kkr@fogelpartners.se
+4670 222 60 30

About Söderberg & Partners

Söderberg & Partners was founded in Sweden 2004 and is today one of the largest providers of wealth management and corporate insurance services in the Nordic region and the Netherlands. The company has over 3,000 employees across more than 110 offices in Sweden, Norway, Denmark, Finland, the Netherlands, Luxemburg and Spain, and more than GBP 60bn in Assets under Management and Assets under Advice.

www.soderbergpartners.co.uk

www.soderbergpartnersgroup.com

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BNP Paribas Cardif and BNP Paribas Banque Privée expand their private equity offer with Ardian

Ardian

09 February 2023 Private Wealth Solutions France, PARIS

• “Ardian Access Solution” is a new private equity unit-linked product launched by BNP Paribas Cardif and BNP Paribas Banque Privée.
•Clients of BNP Paribas Banque Privée enjoy exclusive access to the “Ardian Access Solution” unit-linked product until April 8, 2023.
•This new life insurance vehicle is suited for investors seeking long-term¹ performance as part of an asset diversification strategy.

BNP Paribas Cardif and BNP Paribas Banque Privée are launching “Ardian Access Solution”, a private equity unit-linked product. The underlying asset is a venture capital fund (FCPR) managed by Ardian, a world-leading private investment house. Launched with an exclusive access period for clients of BNP Paribas Banque Privée, the “Ardian Access Solution” product will be available via life insurance and capitalization contracts and individual retirement savings plans distributed by BNP Paribas Cardif.

“Ardian Access Solution” is an evergreen² fund, which enables personal holding companies they might hold to access operations generally reserved to institutional investors while taking advantage of personalized support through life insurance and capitalization contracts and individual retirement savings plans distributed by BNP Paribas Cardif. To address growing demand for meaningful investment among savers, this unit-linked product provides opportunities to invest in the real economy by supporting the development and financing of unlisted businesses across a variety of sectors, located primarily in Europe and North America. The fund comprises a diversified portfolio of assets invested directly alongside Ardian institutional funds (co-investments, buyouts, growth capital), as well as indirectly, via secondary investments in funds that have previously completed investments.

N.B.: Potential investors should be aware of the fact that this investment involves a risk of loss of all or part of invested capital. Potential investors are advised to read the Key Investor Information Document and marketing materials for the FCPR fund before making any investment decision.

¹ Recommended investment horizon five years.
² Open-ended for 99 years

“We created this new solution to meet strong market demand. This initiative is in line with Ardian’s strategy. Our PWS activity is continually innovating, working with partners to build solutions that facilitate access to private equity.” Erwan Paugam, Head of Private Wealth Solutions and Managing Director, Ardian

“In an environment marked by inflation and high interest rates, this new fund underlines our commitment to bringing our clients solutions that target long-term performance, enabling them to focus their investments on the real economy, notably by investing in unlisted companies.” Fabrice Bagne, BNP Paribas Cardif Deputy Chief Executive Officer, France and Luxembourg

“We are delighted to launch exclusive access to “Ardian Access Solution”, a private equity unit-linked product. It will enable our clients to invest in unlisted companies, combining diversification of their assets with natural decorrelation from markets. BNP Paribas Banque Privée has solid internal expertise in private equity, enabling us to work with leading fund managers such as Ardian. We are extremely selective and we support our clients in proposing asset management solutions that take economic cycles into account.” Nicolas Otton, Head of BNP Paribas Banque Privée

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $140bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our1,000+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT BNP PARIBAS BANQUE PRIVÉE

As the leading private bank in France in terms of assets entrusted, BNP Paribas Banque Privée has nearly 121 billion euros in assets under management (end of December 2022). Present in all regions of France, Private Banking supports in all their wealth projects large families, business leaders, family shareholder managers, startups of Next 40 and French Tech 120, employees members of corporate management committees of the CAC 40 or stock optionaries.

https://mabanqueprivee.bnpparibas/

À PROPOS DE BNP PARIBAS CARDIF

The world leader in bancassurance partnerships* and creditor insurance**, BNP Paribas Cardif plays an essential role in the lives of its customers, providing them with savings and protection solutions that let them realize their goals while protecting themselves from unforeseen events. As a committed insurer, BNP Paribas Cardif works to have a positive impact on society and to make insurance more accessible. In a world that has been deeply transformed by the emergence of new uses and lifestyles, the company, a subsidiary of BNP Paribas, has a unique business model anchored in partnerships. It co-creates solutions with more than 500 partner distributors in a variety of sectors (including banks and financial institutions, automotive sector companies, retailers, telecommunications companies, energy companies among others), as well as financial advisors and brokers who market the products to their customers. With a presence in 33 countries and strong positions in three regions – Europe, Asia and Latin America – BNP Paribas Cardif is a global specialist in personal insurance and a major contributor to financing for the real economy. With nearly 8,000 employees worldwide, BNP Paribas Cardif had gross written premiums of €32.6 billion in 2021.
Follow the latest news about BNP Paribas Cardif on Twitter @bnpp_cardif
*Source : Finaccord – 2018
**Source : Finaccord – 2021

Press contacts

ARDIAN

IMAGE 7

ardian@image7.fr  

BNP PARIBAS BANQUE PRIVEE

Fatima El Allaly

fatima.elallaly@bnpparibas.com Tel : +33 7 65 66 79 53

BNP PARIBAS CARDIF

Géraldine Duprey

geraldine.duprey@bnpparibas.com Tel : +33 6 31 20 11 76

Amélie Rochette

amelie.rochette@bnpparibas.com Tel : +33 6 98 83 88 54

Charlotte Pietropoli

charlotte.pietropoli@bnpparibas.com Tel : +33 6 98 49 50 99

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