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Financial services private equity investor AnaCap Financial Partners has made its third acquisition in the UK wealth management platform space with the purchase of Novia Financial.
The financial terms of the deal were not disclosed.
Novia is a UK-based independent investment and wrap platform with £8.15bn ($10.84bn, €8.93bn) in assets under management, as well as a client base of around 67,000 through more than 1,000 IFA firms.
The acquisition marks the third investment from AnaCap in the UK wealth management platform space and comes after acquiring Amber Financial Investments in July 2020 and Wealthtime in December 2019.
AnaCap Signs Third Acquisition In The UK Wealth Management Platform Space With Novia Financial Date
15/12/2020
AnaCap Financial Partners (“AnaCap”), a leading financial services specialist mid-market private equity investor, today announces it has signed a deal for a third acquisition in the UK wealth management platform space with the purchase of Novia Financial (“Novia”).
Novia is the UK’s third largest independent investment and wrap platform by asset under management (“AuM”), 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 operates one of the best technology offerings in the industry, spearheaded by its modern, adaptable and proprietary front-end.
Private equity firm Anacap Financial Partners along with its newly-acquired platform Wealthtime are thought to be close to purchasing Novia, Money Marketing understands
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