Private equity firms launch acquisitive new wealth manager

Private equity firms Maven Capital Partners and Ares Management have launched Titan Wealth Holdings, a new company that is seeking to grow through acquisitions to £20bn-£30bn in assets under management over the next five years.

The new business will unite fund management and administration along with a technology platform. The launch of the company comes at a time of widespread consolidation in the UK’s advice and wealth and asset management sector, which Titan will seek to take advantage of.

Titan’s launch was announced along with its first two acquisitions: Tavistock Wealth and Global Prime Partners. Tavistock Wealth is an asset manager for clients from the retail sector and has around £1 billion in assets under management. Global Prime Partners, meanwhile, specialises in execution, settlement and custody and has £2 billion in assets under management.

Following its debut acquisitions, Titan says it is in discussions with a further six discretionary fund managers. The company will target businesses that have assets under management of between £100 million and £1.5 billion. Titan hopes to reach between £30 million and £40 million in EBITDA over the next two years.

Founders James Kaberry and Andrew Fearon will serve as Titan’s co-chief executives. The business is backed by £170 million from Ares Management, Maven Capital Partners and private family office Hambleden Capital.

Commenting on the launch of Titan Wealth Holdings, James Kaberry and Andrew Fearon said: “We are delighted to welcome GPP and Tavistock Wealth to Titan and very much look forward to working with their existing teams."

"The DFM (discretionary fund management) sector is currently in a state of flux with considerable dislocation and outdated processes as technology and client demand evolve ever more quickly. Against this backdrop, we have the opportunity to drive reform in the sector, through leveraging new technologies and broadening distribution channels to deliver value for intermediaries and institutional clients."

"With the market ripe for consolidation, we have ambitions to grow rapidly and see exciting opportunities in the coming months as we target GBP20-GBP30 billion in assets under management over the next five years.”


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