Rabo Investments proudly announces the investment in Hawk, a pioneer in combatting financial crime.

Rabo Investments

Hawk is a leading provider of AI-powered technology, enhancing fraud prevention and combatting anti-money laundering. Hawk’s solutions enable financial institutions to increase the effectiveness of financial crime detection and fraud prevention capabilities whilst maintaining regulatory compliance. The recent funding round will further accelerate Hawk’s international growth, as demand for AI-powered anti-financial crime technology soars. Rabo Investments is joining existing investors BlackFin Capital Partners, Sands Capital, DN, Picus and Coalition.

On Hawk

Hawk, founded in 2018, has rapidly scaled globally and currently monitors and screens billions of transactions worldwide. The company’s explainable AI approach has proven to be a game-changer in the industry, enabling financial institutions to drastically reduce false positive rates compared to traditional anti-money laundering solutions, while also detecting more unseen and novel crime. Hawk’s modular solution can either enhance or replace traditional rules-based systems with AI-powered transaction monitoring, payment screening, KYC, and fraud prevention in real-time to deliver greater accuracy and reduced noise.

Rabobank has been working with machine learning applications in FEC already for many years. What impressed us most about Hawk is that they’re delivering compelling results using explainable AI. Their advanced screening, detection and monitoring capabilities align very well with our mission at Rabo Investments Corporate Venturing to build a more secure and robust financial ecosystem. We are pleased to join Hawk as a shareholder to effectively combat global financial and economic crime.

Categories: News


CBPE-backed BKL joins forces with Wilson Wright


BKL is a top 50 accountancy firm and Wilson Wright is a leading City of London based accountancy firm. Both firms specialise in supporting fast-growing owner-managed businesses, SMEs, entrepreneurs and high net worth individuals by providing specialist accountancy, tax and business advisory services.

The two firms have a long history of working together and have built a strong relationship over many years. As a result of this deal, the combined business will have two well-established bases in London: BKL’s office in North London and Wilson Wright’s office in Central London. Together they will have a team of over 400 people, including 39 partners, and a combined turnover of £46 million.

BKL has been on an ambitious growth path since partnering with leading private equity investors CBPE in April 2023. This deal comes on the back of three successful BKL mergers in the past year: chartered accountants Landau Baker, virtual finance team specialists CFPro and chartered accountants Alan Heywood & Company.

It’s very exciting to share news of this new chapter for BKL and Wilson Wright. Our discussions, which were incredibly positive from the start, have confirmed how much we have in common: our supportive cultures, our values, the quality of our clients and the excellence of our teams. This is a significant next step for both our businesses. I’m looking forward to everything we’ll achieve together as we continue investing in our people and our clients.

Lee Brook, CEO

At Wilson Wright we have been exploring the best way to continue to develop and future-proof our business so that we can further enhance our client offering. We have known BKL for many years, and we share their ambitions for the future. Their purpose, drive, and desire to ensure they remain a responsible employer resonate strongly with us. It became clear from an early stage in our discussions that our two organisations are very much aligned, and we are looking forward to coming together as one team. We are excited about the possibilities that lie ahead for both of our teams to learn from each other, develop a stronger offering and add increased value to our clients.

Adam Cramer, Managing Director
Wilson Wright

Having partnered with Lee and the BKL team a year ago, we are delighted for Adam and the Wilson Wright team to be joining us on the next stage of the journey. It is clear that both firms share a strong employee culture and values, with a commitment to quality that results in exceptional client service. The SME accountancy market is going through a period of transition, and together the firms are ideally placed to capitalise on the exciting opportunities this presents for both colleagues and clients.

Adam Richardson, Director

About BKL

BKL is a top 50 firm of chartered accountants and tax advisers based in North London.

BKL specialise in helping owner managed businesses, entrepreneurs, high net worth individuals and families. Their clients benefit from deep expertise in many sectors, including property, construction, financial services, not-for-profit, and music, media, sport & entertainment.

BKL’s services include tax consultancy, audit, assurance, accounts, corporate finance, outsourcing, payroll, private client advice, and a growing number of consulting services, including commercial finance, IT, and sustainability.

In April 2023 BKL took private equity investment from CBPE. Since then, BKL has completed three acquisitions: Landau Baker, academy specialists; CFPro, virtual finance team specialists; and Alan Heywood & Company, a music, media & entertainment sector firm of accountants.

BKL is committed to growing in a sustainable way. As a certified B Corporation (B Corp), they are verified as a business that acts with consideration for people, planet and purpose, not just profit.

Last year, BKL won Best Employer in Tax at the Tolley’s Taxation Awards 2023, and Tax Team of the Year at the Accounting Excellence Awards 2023.

About Wilson Wright

Wilson Wright is an accounting, tax and business advisory firm based in the City of London with origins that go back over 130 years. Many of their client relationships span generations and decades.

Being a longstanding and active member of DFK International, a worldwide association of independent member firms, enables the team to deliver international and cross-border advice to their clients.

Traditionally an accounts, assurance and audit-focused firm, in the last decade they have developed a range of highly specialised tax services including, international and national tax structuring, tax risk and dispute resolution and tax transactions.

Wilson Wright’s client base includes high net worth individuals, international sports personalities, renowned entrepreneurs, sole traders, and multinational groups. Their sector expertise ranges from fast-growing technology and environmental start-ups to family offices, property, professional services, charities, sport, media, and the arts.

Wilson Wright is recognised and ranked in Chambers & Partners High Net Worth Guide for Accountants and Tax Advisers, ePrivateClient Top Accountancy Firms, and as a Tolley’s Taxation Awards finalist in 2023. They were also listed in the Sunday Times Best Places to Work 2023.

Wilson Wright is proud to be a people-centric, proactive, professional advisory firm, where heritage, trust and partnership are at the heart of what they believe in. Their culture fosters a close-knit environment that provides support, guidance and the motivation required to deliver complex and exceptional work for the benefit of clients.

About CBPE

CBPE is a leading UK private equity firm which pursues a disciplined and consistent investment strategy, targeting buy-outs and development capital investments in UK-headquartered businesses with enterprise values up to £150 million. Since 2000, CBPE has made over 60 such investments from five funds.

BKL represents one of eight investments out of CBPE Fund X, which closed at the hard cap of £561m in November 2020.

For more information, please get in touch with Adam Richardson.

Categories: News


FinFit & Salary Finance U.S. Announce Merger, Creating America’s Leading Workplace Financial Wellness


VIRGINIA BEACH, VA, April 5, 2023 / PRNewswire / — With nearly 50 percent of U.S. workers reporting financial stress, FinFit and Salary Finance U.S. today announce their merger, to better support the financial needs of working Americans. Both companies have been part of the rapidly growing market of financial wellness employee benefits offered through the workplace, as demand has skyrocketed post-pandemic and due to inflation-driven cost of living challenges.The merged organization will service over 500,000 U.S. employers and over 10 million U.S. employees, in employers ranging in size from 4 employees to 400,000 employees, including household name brand employers like Tesla, Allied Universal, and United Way, and through an exclusive partnership with the payroll provider, Paychex.

The combined organization will operate under the FinFit brand, with the updated platform including Salary Finance U.S.’s financial wellness products. With these additions, FinFit’s SaaS-based platform will be the most comprehensive workplace financial wellness platform in the U.S., including a personalized financial assessment, coaching and dashboard, budgeting, spending and savings accounts, and payroll-deducted earned wage access, advances, and loans.

FinFit CEO and Founder David Kilby will continue to lead the combined organization, and Salary Finance’s Co-Founder Asesh Sarkar will serve as President.

David Kilby, CEO of FinFit commented, The post-pandemic world has been tumultuous for the American worker – from inflation to rediscovering a new work-life blend. Financial instability, today more than ever, compounds stress that leads to negative productivity and health outcomes. We are energized to be merging with Salary Finance to take FinFit to the next level, as America’s preeminent financial wellness platform supporting employees through their journey to financial health. Our organizations share this vision, and our combined capabilities and scale will ensure we will deliver on our core values to build financial wellness opportunities for all.

The merger comes at a time when there has never been more emphasis from businesses to create wellness programs for employees and, in particular, wellness programs that focus on the financial stress and pressure today’s worker feels. According to the most recent research data from FinFit and Salary Finance U.S., which will be released later this spring, 49 percent of U.S. workers are feeling financial stress. A majority, 70 percent, are worried about a recession impacting them, and 61 percent say they have less cash on hand now than they did a year ago. Financial stress in the workforce leads to ineffectiveness at work, troubled relationships, and a drop in productivity, creating a compelling financial and moral case for employers to act.

Asesh Sarkar, Salary Finance Co-Founder and President of FinFit, commented, Our mission at Salary Finance has been consistent from day one: to help millions of employees around the world become financially healthier and happier. This merger accelerates our path forward and allows us to serve clients and their employees with a more holistic set of benefits. I am excited to be working with David and the combined team as we move to the next stage of our journey.

Clients of Salary Finance U.S. and FinFit will continue to be served as they are today, with details of the option to upgrade to the new FinFit platform to be shared soon.

About FinFit: FinFit was established in 2008 and currently services over 500,000 organizations across the United States. The company’s SaaS-based model provides holistic financial wellness services that include a personalized financial assessment, premier educational resources, online money management tools, financial coaching, financial solutions, early wage access, spending and savings accounts, student loan services, and a member rewards program. Focus on creating positive, healthy financial behaviors and products to support behavioral change has proven to reduce financial stress and increase employee retention by more than 25%.

View source version on prnewswire.com: prnewswire.com/news-releases/finfit-and-salary-finance-us-announce-merger-creating-americas-leading-workplace-financial-wellness-platform-301790725.html

Categories: News


Why we’re investing in AlTi Tiedemann Global

Published in Allianz X

Following four months of negotiations, an agreement was reached for Allianz X to invest up to $300 million in AlTi Tiedemann Global, a leading independent global wealth and alternatives manager. The result creates a pivotal opportunity for Allianz in the wealth and alternatives management sector. In this Q&A interview, Allianz X staff involved in the complex deal unpack the intricate details of it, the unique value proposition of AlTi, and the strategic rational behind it all.

“Allianz X brings capital and skills to our portfolio companies to foster innovation, fuel growth and realize their ambitions. Our investment in AlTi demonstrates our approach as well as our conviction in wealth management and alternatives, and we believe it will unlock opportunities for scale, new revenue streams, and societal impact for the Allianz Group,” said Allianz X CEO Dr. Nazim Cetin.

What is AlTi Tiedemann Global?

Alexander De Kegel: AlTi is a leading independent global wealth and alternatives manager with combined assets of approximately $68 billion. It provides a comprehensive range of customized services to an ultra-high-net-worth clientele, including entrepreneurs, foundations, multi-generational families, and emerging next-generation leaders. These services include estate planning, fiduciary administration, impact investing, investment advisory, and philanthropy. Unique in its field, AlTi deftly combines the extensive services typical of large firms with the personalized care characteristic of a boutique.

Why has AlTi captured our interest?

Michael Bradt: Our interest stems from our position at the intersection of financial services and technology. Our ongoing analysis pinpoints opportunities for collaboration with promising growth businesses to enhance their competitive advantage and generate financial and strategic returns for Allianz. We have developed a strong hypothesis in the global wealth domain. Wealth management, which offers access to an attractive pool of recurring revenues and is complementary to insurance and asset management, aligns well with Allianz’s overall mission to secure the future of our clients and their families.

What distinguishes AlTi from others in the industry?

Niklas Mundorf: AlTi serves ultra-high-net-worth (UHNW) clients, a focus it has honed over two decades. Its global presence matches the international requirements of its clients and their families, which provides it with a distinct advantage compared to many regional competitors. AlTi’s open architecture means solutions can be optimally tailored to each client’s needs. The company also has its own strategic alternatives business and access to many others. This ensures clients access to the most fitting and effective investment opportunities to meet their goals. The team at AlTi provides an incredible client experience. But don’t take our word for it; their client retention rate has been 97% since 2019, a clear indicator of the company’s distinction in the field.

What’s in it for AlTi?

Philip Wieland: As active investors, we are committed to supporting our portfolio companies throughout their growth journey, assisting them to achieve their milestones and emerge as leaders in their fields. A key aspect of our strategy involves leveraging opportunities within the Allianz universe to enhance AlTi’s business. We see tremendous potential in this partnership, and are eager to demonstrate this in the coming months and years.

Why another North American investment?

Maya Rollinger: This investment transcends geographical boundaries by targeting the global wealth sector. Although AlTi’s headquarters are in New York, their clients, operations, and teams have broad international reach, spanning Asia, Europe, and North America. Our investment accelerates AlTi’s strategy to become the leading global independent wealth and alternatives manager by enabling it to execute on its global mergers and acquisitions pipeline and expand its business in both existing and new markets.

What makes the wealth sector attractive?

Johann Kraberger: Many things. From a macro perspective, the increasing complexity and rapid change in global markets are driving a rising demand for expert private wealth management. The sector benefits from the accumulation and intergenerational transfer of wealth, contributing to steady market growth. From an investor’s perspective, wealth management is capital-efficient, offering substantial margins and dependable revenue streams. A critical feature of this sector is the profound, trust-based relationships between clients and their advisors, leading to exceptional retention rates as well as the creation of long-term partnerships and mutual value.

Sümer Uysal: From a strategic standpoint, Allianz, being one of the world’s largest asset managers with approximately $1.8 trillion in third-party assets under management, possesses extensive expertise in institutional money management. Wealth management introduces a pivotal link between institutional asset management and private wealth, which provides Allianz with exposure to a new market segment. It also offers AlTi the chance to capitalize on the capabilities, infrastructure, and scale of one of the world’s premier asset managers and insurance providers.

How does AlTi fit into Allianz X’s portfolio?

Alex: AlTi’s addition represents a strategic expansion of our portfolio. After thorough team deliberations on diversifying our presence into new, competitive areas, investing in AlTi emerged as a key move to prove our investment thesis in the wealth sector. This further enriches our portfolio of high-conviction investments and takes the total value of assets managed from the North American office beyond the one-billion-dollar mark.

How is the investment structured?

Gregor Freilinger: The investment is planned to be up to $300 million allocated across common and preferred equity, comprising an initial $250 million with an option for an additional $50 million. This is anticipated to potentially lead to a voting stake of up to 24.9%. Beyond the financial aspects, our engagement with AlTi will be formalized by nominating two members to its Board of Directors, facilitating strategic partnership and guidance.

When will the investment “close”?

Philip: We signed the transaction on the 22nd of February 2024 and are currently undertaking all necessary steps to secure the required regulatory approvals. This is a marathon, not a sprint.

What’s next?

Maya: We are looking forward to working closely with AlTi in the future. The investment is just the first step of our journey together. With our recently opened office in New York, we are best positioned to jointly unlock opportunities for both AlTi and the Allianz Group.

Categories: News


Cinven agrees to make significant strategic investment in Alter Domus


International private equity firm Cinven today announces that it has reached an agreement to make a majority investment in Alter Domus, a leading global provider of end-to-end tech-enabled fund administration and corporate services across three sectors: private equity, real assets and private debt. All existing shareholders, including the Company’s Founders and the Permira Funds, will sell approximately half of their shares to Cinven, and retain a significant investment in Alter Domus going forward. 

Established in 2003 and headquartered in Luxembourg, Alter Domus is one of the largest fund administrators globally, with over $2.5tn assets under administration (AuA). The firm has grown rapidly to meet the evolving needs of its client base, building a global network that now spans 23 jurisdictions, servicing 90% of the top 30 asset managers globally. Since 2021, Alter Domus has increased revenue by 54% and grown AuA by 69%.  

Cinven has spent significant time targeting investment opportunities in the fund services subsector, given its attractive and resilient characteristics, underpinned by structural growth in the alternative assets space. Cinven’s Business Services and Financial Services sector teams worked together in close partnership to acquire Alter Domus, identifying the following key investment attractions:

  • Its impressive financial track record, with Alter Domus having consistently outperformed the market, delivering double-digit organic growth and attractive margin performance;
  • Alter Domus represents a scarce, market-leading global fund services platform that delivers market-leading service levels to a blue-chip customer base including 90% of top-30 asset managers served;
  • It is a proven M&A platform in the fragmented fund services market that has a successful track record of acquisitions, and a strong further pipeline of potential buy and build opportunities across a range of markets and geographies; 
  • The company operates in attractive markets, with the fund services subsector benefitting from the structural growth of private capital markets, increasing regulation and a continued trend towards outsourcing of fund services, together with downside-protection through strong revenue visibility and cashflow generation; 
  • Alter Domus has received significant investment in the tech-enablement of the Company – resulting in best-of-breed third-party platforms, workflow automation and a leading data and analytics product capability to better serve the increasingly complex needs of its global client base; and
  • It has an experienced and highly respected management team that has led the strong performance to date.

Through this transaction, Cinven will support the long-term strategic growth of Alter Domus, working in close partnership with Alter Domus’ founders and Permira. 

Drawing on its global platform and leveraging the expertise of both its Business Services and Financial Services sector teams, and its Digital Hub team, Cinven will support management to accelerate growth across key regions and customer verticals and invest further in developing Alter Domus’s leading tech-enabled and digital offerings to its clients.

Rory Neeson, Partner and Head of Cinven’s Business Services sector team, said: 

“Cinven is delighted to make this investment in Alter Domus. Fund services has been a priority subsector for Cinven’s Business Services team for some time due to the attractive business model characteristics and strong growth drivers. We have followed Alter Domus closely over many years and admired it as a global leader with blue-chip clients and leading service levels. Looking forward, we see significant potential for further growth and look forward to working with the management team and shareholders in the next phase of its journey.”

Maxim Crewe, Partner and Head of Cinven’s Financial Services sector team, added:

“Alter Domus is well positioned to benefit from the strong growth in the fund services market, underpinned by the structural expansion in private capital markets, greater regulation and further outsourcing. The Company is a leading player in the industry with a differentiated service proposition, and we see a compelling opportunity to leverage Cinven’s Financial Services sector knowledge and global footprint to help the business continue this trajectory.”

Doug Hart, Chief Executive Officer of Alter Domus, commented:

“With an enviable track record of investing in fast-growing, world-class businesses, we are thrilled to welcome Cinven as an investor in Alter Domus. Cinven shares our strategic vision and commitment to developing long-term technology-enabled partnerships with the leading alternatives firms globally through the delivery of operational and client service excellence. Together we look forward to further accelerating our international growth and delivering innovative new services to our clients.”

The transaction is subject to regulatory approvals and other customary closing conditions. 

Categories: News


Altor has increased its financial interest in Mandatum by an additional 6.6% of the outstanding shares

We are pleased to announce that we, Altor Fund VI (“Altor”), have today increased our financial interest in Mandatum plc (“Mandatum”) by an additional 33 million shares, corresponding to 6.6% of the outstanding shares. Altor is the largest shareholder in Mandatum and following today’s increase has a total interest representing 16.6% of the outstanding shares.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Trioworld, OX2, Carnegie, Kaefer, FLSmidth, Rossignol and Toteme.

For more information visit www.altor.com

About Mandatum

Mandatum is the leading Finnish financial services provider offering a wide array of services covering asset and wealth management, savings and investment, compensation and rewards, complimentary pension plans and personal risk insurance to corporates, retail customers as well as institutional and wealth management customers. Mandatum serves a network of 20,000 Finnish corporates and through its highly skilled sales force and customer relationship personnel, succeeds with cross-selling products from its broad and recognized offering. Mandatum has today approx. BEUR 11.9 in client assets under management across corporates, instituitional, wealth management and retail customers.

For more information visit www.mandatum.fi/en/

Press contact

Karin Åström

Head of Communications


+46 707 64 86 59

Categories: News


Blue Owl Capital to Partner with Lunate to Invest in Private Market Investment Managers

Blue Owl logo

Partnership will target mid-sized private market managers

NEW YORK and ABU DHABI, UAE, February 7, 2024 — Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, and Lunate, a global alternative investment manager headquartered in Abu Dhabi, managing US$105 billion in assets, announced today a joint venture to provide growth capital to leading mid-sized private capital GPs.

The joint venture will seek to acquire minority stakes in private market investment managers with fee-paying assets under management of less than $10 billion. The joint venture plans to target GPs with a clear sector specialization, differentiated approach, strong leadership and culture, and an established foundation of a durable, stable platform with identifiable key drivers of franchise value.

Lunate invests primarily in private markets through a multi-asset class approach, including private equity, venture capital, private credit, real assets, and public equities and public credit. Lunate, together with Blue Owl’s GP Strategic Capital platform, a market leader in GP minority investing, will create a powerful and differentiated proposition in the mid-market segment for GPs seeking growth capital and strategic partnerships.

“We are excited to partner with Lunate, which is a leading global private markets solutions provider based out of Abu Dhabi,” said Michael Rees from Blue Owl. “They bring valuable investment experience as both an LP and minority GP stake investor. We think the combined effort will be truly differentiated for mid-sized GPs and be complementary to our existing strategy focused on larger managers.”

“Our joint venture with Blue Owl speaks to Lunate’s aim of identifying and investing in a mid-sized GP Stakes Strategy that will enable our clients to participate in the broader dynamics of private markets investing” said Khalifa Al Suwaidi, Managing Partner, Lunate. “Blue Owl are pioneers and leaders in this space, and together, we are well positioned to add strategic value through our multi-asset platform, global networks, and industry expertise.”

Investor Contact:
Ann Dai
Head of Investor Relations

Media Contact:
Nick Theccanat
Principal, Corporate Communications & Government Affairs


About Lunate

Lunate is a new Abu Dhabi-based, Partner-led, independent global alternative investment manager with more than 150 employees and $105 billion of assets under management. Lunate invests across the entire private markets spectrum including buyouts, growth equity, early and late-stage venture capital, private credit, real assets, and public equities and public credit. Lunate aims to be one of the world’s leading private markets solutions providers through SMAs and multi-asset class funds, seeking to generate best-in-class risk-adjusted returns for its clients.

Media Contact: For any media inquiries, please contact media@lunate.com


Forward Looking Statements    
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of strategic acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl’s shares on the New York Stock Exchange (“NYSE”); Blue Owl’s ability to manage growth; Blue Owl’s ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geo-political and competitive factors.

Categories: News


CBPE agrees sale of Perspective


CBPE Capital LLP (“CBPE”) is pleased to announce that it has exchanged contracts on the sale of Perspective Financial Group Limited (“Perspective”) to US middle-market private equity firm Charlesbank Capital Partners LLC (“Charlesbank”). The sale is subject only to regulatory approval from the FCA. Terms of the transaction have not been disclosed.

CBPE invested in Perspective alongside the current management team in December 2019. During CBPE’s investment the business has grown significantly from £2.6 to £8.0bn assets under management through a focused buy-and-build investment strategy, supported by strong organic growth.

Perspective has completed over 45 acquisitions since CBPE invested. All of these have been fully integrated into the group, ensuring consistently high standards of advice whilst enabling all acquisitions to benefit from the significant investments that have been made in central support functions and technology.

From the outset, CBPE understood the key element of a successful wealth business and the importance of maintaining our client-centric culture. They have been a constant and supportive presence throughout the past four years. Together, we have built a highly efficient M&A execution and integration team, which has allowed us become the go-to acquirer for retiring IFA businesses. We are excited to partner with Charlesbank and believe this new partnership will help us continue building on our success to date and enable us to take our business to new heights.

Ian Wilkinson, CEO

We have had the pleasure of working in a highly collaborative partnership, with a fantastic management team at Perspective. We have seen the business develop and grow significantly, whilst maintaining its focus on regulatory best practice and always doing the right thing by its clients. We take immense pride in what we have achieved together and the quality of Perspective as a platform for further growth in the UK wealth management market.

Richard Thompson, Partner

The sale continues CBPE’s strong track record of investing in the financial services sector. The proposed sale of Perspective will follow the previous successful exits in the sector including Xceptor, Compre, Xafinity and JTC, and will represent the sixth exit from Fund IX. Current investments in the financial services sector include BKL, Centralis Group and DCL.

CBPE’s investment in Perspective was led by Richard Thompson and Harry Hewlett with support from Rachel Milton.

CBPE were advised by: Houlihan Lokey (Corporate Finance), Mayer Brown (Legal), Deloitte (financial, operational and tax diligence), LEK (commercial diligence), Thistle Initiatives (regulatory diligence) and Crosslake (IT).

Categories: News


Cetera Announces Close of Equity Reinvestment from Genstar Capital

Cetera Continues with Current Leadership, Community, Culture and Brand

Reinvestment Enables Ongoing Deployment of Capital To Support Wealth Hub Expansion Through Organic Growth, M&A and New Markets

San Diego, December 21, 2023—Cetera Financial Group, owned by Cetera Holdings (collectively, “Cetera”), the premier financial advisor Wealth Hub, announced today the close of the reinvestment by Genstar Capital (“Genstar”), a leading private equity firm focused on investments in targeted segments of the financial services, software, industrials, and healthcare industries. Originally announced in October 2023, the reinvestment transaction has closed following the receipt of regulatory approvals and the satisfaction of other closing conditions. 

“Genstar’s partnership has propelled growth for Cetera for several years, and we look forward to even bigger things to come in the next chapter together,” said Mike Durbin, CEO of Cetera Holdings. “This reinvestment provides fresh capital to empower our strategic plans and allows us to thoughtfully reinvest in the Cetera business to drive continued growth and success. We are grateful for this vote of confidence by Genstar and are more optimistic than ever headed into 2024.”

Since Genstar’s original investment in 2018, Cetera has grown dramatically, driven by organic growth, recruiting and strategic M&A, from approximately 7,000 advisors and 1,300 employees supporting $242 billion of assets under administration (“AUA”) to approximately 12,000 advisors and 2,800 employees supporting $475 billion of AUA today.  Cetera continues to be an essential partner for its independent advisor and financial institution clients, offering industry leading technology, award-winning solutions and innovative support to enable growth. Consistent with a philosophy of aligning incentives to shared outcomes, Cetera and Genstar have designed refreshed programs to encourage additional ownership by advisors and management.

Tony Salewski, Managing Partner of Genstar, said, “The first chapter of Genstar’s partnership with Cetera has been an exciting journey, and we thank the leadership team for tremendous growth and value creation. We are excited to re-underwrite Cetera as a new investment, led by our latest fund, Genstar XI.  This next chapter will see the further expansion of the business and the Wealth Hub strategy.”

About Cetera Financial Group®

Cetera Financial Group is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.

Home to more than 12,000 financial professionals and their teams, Cetera oversees approximately $475 billion in assets under administration and $186 billion in assets under management, as of December 20, 2023. In a recent advisor satisfaction survey of more than 21,000 reviews, Cetera’s Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it’s ranked 4.8 out of 5 stars.

Visit www.cetera.com, and follow Cetera on LinkedInYouTubeTwitter and Facebook.

“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All firms are FINRA/SIPC members. Located at: 655 W. Broadway, 11th Floor, San Diego, CA  92101.

Registered Representative offering securities and advisory services through Cetera Financial Specialists, member FINRA/SIPC. Cetera is under separate ownership from any other named entity.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high-quality companies for over 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Together with Genstar XI, a $13.5 billion vehicle raised in April 2023, and all active funds, Genstar currently has approximately $49 billion of assets under management and targets investments focused on targeted segments of the financial services, software, industrials, and healthcare industries.


Ryan Hoffman

Kris Pfeiffer

Chris Tofalli Public Relations,
Chris Tofalli

Categories: News


Gimv welcomes WorxInvest as reference shareholder




Antwerp, 30 November 2023 – The diversified investment company WorxInvest and the Flemish Participation Company VPM announce today an agreement where WorxInvest acquires all of VPM’s remaining 27.81% stake in Gimv NV (Gimv), the Euronext Brussels listed European investment company. WorxInvest is the parent company of the leading European HR solutions provider SD Worx. The transaction is subject to customary regulatory approvals.

Gimv is a European investment company with over four decades of experience in private equity and venture capital. It manages around EUR 1.6 billion of investments in about 60 companies. As a recognised market leader in selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high-growth potential and supports them in their transformation into market leaders. Gimv’s five investment platforms are: Consumer, Healthcare, Smart Industries, Sustainable Cities and Life Sciences.

The transaction value of the 27.81% stake has been determined at EUR 375 million, or
EUR 48.36 per share (cum dividend). This represents a premium of +10% to the closing price on 30 November and a discount of 6% to the latest reported net asset value.

WorxInvest considers Gimv as a long-term strategic investment through which it will realise its direct private equity investment strategy, while WorxInvest separately continues its focus on indirect investments.

Filip Dierckx, Executive Chairman of WorxInvest, comments: “We are very pleased to announce this transaction, which marks a new milestone for WorxInvest. We have a lot of respect for Gimv’s achievements and the strength of its CEO and management team, and we look forward to working together to create value for all stakeholders. We believe that Gimv has a unique position in the European investment landscape, and we are proud to contribute to its future success. As an active reference shareholder of Gimv, WorxInvest will fully support Gimv’s activities and provide continuity and anchorage in Flanders. WorxInvest is committed to fostering a collaborative and mutually beneficial partnership with Gimv in alignment with its strategic objectives and European growth ambitions, while respecting Gimv’s governance.”

Koen Dejonckheere, CEO of Gimv, says: “We welcome WorxInvest as our new reference shareholder and we thank VPM for more than 43 years of “Building Leading Companies” together. We are confident that WorxInvest will be a constructive and reliable partner for Gimv, sharing our vision and values. With WorxInvest on board, we will further pursue our mission and continue our growth journey as a stock market-listed international investor. By focusing on the values of ambitious entrepreneurship, diverse top talent and ground-breaking innovation, Gimv -as a partnership-oriented investor- aims to continue to add significant value for its shareholders as well as sustainable prosperity for our society.”

Matthias Diependaele, Flemish Minister for Finance and Budget, states: “WorxInvest is the ideal partner for Gimv. WorxInvest is anchored in Flanders and has experience with similar investments. The link with Flanders was crucial for me and was therefore included in the selection criteria for finding the best future partner. With this transaction we are anchoring Gimv in Flanders, allowing Gimv to continue playing its important role in the Flemish business landscape. Moreover, the price offered is a considerable boost for Flanders and is fully in line with the 10-year average share price of Gimv. The price that WorxInvest is prepared to pay recognises the great appreciation WorxInvest has for Gimv and its future potential.”

Jo Brouns, Flemish Minister for Economy, Innovation, Work, Social Economy and Agriculture, states: “We are very pleased to have found a good partner who will take over VPM’s role as a reference shareholder of Gimv. We trust that there will be a high degree of continuity, which will be to the benefit of our Flemish economy.

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