Private equity firm Aspirity Partners has invested $135m in Hoxton Wealth, marking the expatriate wealth manager’s first external funding round, as it looks to capitalise on growing demand for cross-border financial advice, according to a report by Bloomberg.
The investment will reportedly support Hoxton’s international expansion, recruitment and strategic acquisitions, with the firm targeting increasingly mobile high-net-worth individuals, particularly British expatriates relocating to financial centres such as Dubai and Abu Dhabi.
Founded in 2018 and headquartered in London and Dubai, Hoxton operates across 10 jurisdictions, serving approximately 10,000 clients and managing more than $5bn in assets. Co-founder Chris Ball will reportedly retain a majority stake following the transaction.
Aspirity, which closed its inaugural fund at more than €875m last year, focuses on financial technology and services, enterprise technology and connectivity. The firm estimates the market for internationally mobile clients at $1.2tn, growing 16% annually, with only a quarter currently receiving financial advice.
