Maven UK Regional Buyout Fund backs dual acquisitions by Titan Wealth
The Maven UK Regional Buyout Fund, managed by Maven Capital Partners (Maven), has invested in Titan Wealth Holdings (Titan) to support Titan's platform acquisitions and future acquisition strategy.
Titan has been formed to provide more integrated and flexible services to investment managers and independent financial advisers (IFAs) through a central proposition that combines discretionary fund management (DFM) with integrated trade, custody and settlement services through a leading technology platform. Titan presents an exciting opportunity within the rapidly evolving wealth management sector to offer higher quality, more flexible and independent services to clients. Titan, which is targeting GBP20-GBP30 billion in assets under management over the next three to five years, is led by a highly experienced team of financial services entrepreneurs, and is supported by capital partners Ares Management, Maven Capital Partners and Hambleden Capital to pursue its ambitious strategy.
Titan has agreed the acquisitions of two leading investment and wealth management businesses, Global Prime Partners Ltd (GPP) and Tavistock Wealth Limited (Tavistock Wealth), subject to regulatory approval. Following the acquisitions, Titan will have GBP3 billion of assets managed through their platforms.
The acquisition of GPP, which has GBP2 billion in assets under administration and carries out more than 500,000 trades per year for its clients, will provide a full suite of execution, settlement and custody services to Titan, in addition to its institutional clearing and custody business. GPP’s platform harnesses state of the art digital and client-facing technology with a large established proprietary back-office infrastructure and will enable Titan’s existing Discretionary Fund Managers (DFMs) to scale, whilst providing its investors and intermediaries with access to better quality and more cost-effective services.
Tavistock Wealth, the multi-asset manager of Tavistock Investments Plc (Tavistock Plc), is a specialist DFM with in excess of GBP1 billion in assets under management, a market leading investment track record and ESG capability. As part of the agreement, Titan and Tavistock Plc will form a 10-year strategic partnership, with Tavistock acting as retail distribution partner and retaining Titan as the investment manager for its centralised investment proposition.
Both businesses will operate under the Titan holding group and retain their existing successful models and leadership teams.
Tom Purkis, Partner at Maven, says: “We’re delighted to be backing the Titan team in their ambitious strategy to offer a market leading service combined with a fully integrated and digitally enabled offering. The initial acquisitions provide a strong foundation for further growth and expansion in product and service offerings. Titan is looking to drive change and deliver value for investment managers and financial advisers, and its strategy will harness the latest technologies to improve client service and distribution. We are excited by the future opportunities for the business and look forward to supporting the team and their strategy.”
James Kaberry and Andrew Fearon, joint-CEOs of Titan Wealth Holdings says: “The DFM sector is currently in a state of flux with considerable dislocation and outdated processes as technology and client demand evolve evermore 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 billion to GBP30 billion in assets under management over the next five years. We welcome the support of Maven and our other investors who are highly supportive of our strategy and proposition.”