LONDON, December 15, 2020 – Proskauer, a leading international law firm, today announced that its client, AnaCap Financial Partners, a leading financial services specialist mid-market private equity investor, has signed a deal for a third acquisition in the UK wealth management platform space with the purchase of Novia Financial. Completion of the acquisition is subject to regulatory approval.
Novia is the UK’s third largest independent investment and wrap platform by asset under management, having been established in 2008. It records an AuM figure of £8.15 billion and serves a client base of 67,000 through more than 1,000 IFA firms.
Novia’s acquisition marks the third investment from AnaCap in the UK wealth management platform space and this news comes after AnaCap successfully signed Amber Financial Investments in July 2020 and Wealthtime in December 2019.
Across the three investments, AnaCap have now acquired almost £11 billion AuM and will continue to deploy its expertise in tech-enabled businesses and operational engagement to bolster the businesses organic expansion as well as continuing to identify attractive bolt-on acquisition opportunities.
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