Oaktree Capital Management is assessing options for UK insurance-based wealth solutions provider Utmost Group, reported Bloomberg citing sources.  

The options on the table include a possible sale or a public listing in London. 

Sources have indicated that Oaktree is nearing the appointment of advisers to oversee the process.  

The review of options is still at a preliminary stage, and plans could be altered. 

Those familiar with the matter suggested that Utmost might be valued at approximately £2bn ($2.7bn), should a transaction take place. 

Representatives for both Oaktree and Utmost did not provide comment when contacted. 

Utmost Group, established in 2013, focuses on insurance-based investment products for affluent clients and reported £116.3bn in assets under administration as of the end of last year.  

Oaktree, itself a subsidiary of Brookfield Asset Management, has backed Utmost over a number of years. 

Last year, Utmost reached an agreement to sell its UK life and pensions division to JAB Insurance for £250m.  

Proceeds from this sale are allocated to repaying bank debt related to the earlier purchase of Lombard International’s wealth business. 

This potential move comes amid heightened deal making interest by UK insurance and wealth management firms.  

Nuveen recently sealed a deal to buy Schroders for about £9.9bn, while NatWest Group agreed to buy wealth manager Evelyn Partners for £2.7bn. 

Meanwhile, Zurich Insurance Group and Beazley have reached consensus on the financial terms of a $10.8bn (£8bn) acquisition proposal that would see Zurich pay cash for all shares in the British speciality insurer.