Private investment firm Oaktree Capital Management is weighing strategic options for Utmost Group Plc, including a potential sale or a flotation in London, according to a report by Bloomberg citing unnamed people familiar with the matter.
A transaction could value the insurance-based wealth manager at around £2bn, according to Bloomberg’s sources, although discussions are at an early stage and no final decision has been taken. Oaktree is understood to be close to appointing advisers to explore the options.
Founded in 2013, Utmost provides insurance-linked investment products to high-net-worth clients and had £116.3bn of assets under administration at the end of 2025. Oaktree has been a long-term backer of the business and is itself majority-owned by Brookfield Asset Management.
Last year, Utmost agreed to sell its UK life and pensions arm to JAB Insurance for £250m, with proceeds earmarked to reduce debt linked to its acquisition of Lombard International.
The potential transaction comes amid heightened deal activity across the UK wealth and insurance sector. Earlier this month, NatWest Group agreed to acquire Evelyn Partners for £2.7bn, while several private equity-backed insurers are also exploring exits.
