Tiedemann Group and Alvarium Investments agree deal with Cartesian Growth Corporation SPAC
Tiedemann Group (Tiedemann), Alvarium Investments Limited (Alvarium), and special acquisition company (SPAC) Cartesian Growth Corporation (Cartesian) jointly announced entry into a definitive business combination agreement.
This proposed transaction will form Alvarium Tiedemann Holdings, which is expected to be a leading independent, global investment firm providing institutions, entrepreneurs, families and emerging next-generation leaders with fiduciary capabilities as well as investment strategies and services.
The constituent firms’ expansive international network across four continents, diverse expertise and access to private and institutional capital is expected to provide a compelling portfolio of services. This comprehensive offering will be underscored by a commitment to impact or values-aligned investing and offer trusted advisory services to family-owned businesses as well as real asset direct and co-investment opportunities. Alvarium Tiedemann’s common stock is expected to be publicly traded on Nasdaq under the ticker symbol “GLBL” following the closing of the transaction, which is anticipated in the first quarter of 2022. Alvarium Tiedemann will be headquartered in New York.
“We are thrilled to partner with Alvarium to establish a truly unique, global investment firm in Alvarium Tiedemann,” says Michael Tiedemann, CEO of the Tiedemann Group. “Alvarium brings a culture of entrepreneurism and a breadth of global capabilities and expertise that will complement our existing client experience. I believe the combination of talent and geographic reach with Cartesian’s access to capital will provide the permanence needed to continue to grow and evolve a dynamic investment platform. We have a unified vision that is committed to diversity and inclusion, serving our clients and continuing on our path to becoming a differentiated leader in investment strategies and services.”
Alexander de Meyer, CEO of Alvarium, says: “Upon our introduction to Tiedemann, we were immediately struck by how complementary the firms were, from investment philosophy to client service and firm culture. This alignment made Tiedemann an optimal partner as we look to expand our global footprint particularly in the United States. I am confident this combination will accelerate the growth of our combined firms, improving our ability to help our clients access innovative investment solutions and ensuring long-term opportunities for our employees.”
Peter Yu, Chairman and CEO of Cartesian, says: “We are pleased to introduce Alvarium Tiedemann to the public markets. I see this combination as creating a powerful, unified ecosystem of capabilities that will serve a multigenerational client base while maintaining independence. This is a perfect fit strategically as well as culturally, with a robust infrastructure positioned for accelerated growth and innovation.”
Michael Tiedemann will serve as Alvarium Tiedemann’s Chief Executive Officer. Alexander de Meyer will chair the firm’s executive committee which includes industry-leading professionals who have a breadth and depth of global expertise and experience.
Law firm Seward & Kissel LLP represented Tiedemann Advisors and TIG Advisors in this deal.