Hurst Point Group, a portfolio company of US-based private equity firm Carlyle Group, has brokered a deal to buy Metis Wealth and Metis Asset Management.

Financial terms of the deal were not disclosed.

The deal, which is said to be the firm’s fourth deal in less than two months, is expected to take its total funds under administration and management to nearly $9.6bn (£8bn).

Metis has 18 employees working across its financial planning and investment management businesses in West Sussex and London. The firm manages approximately $903m (£750m) in assets under advice.

Following the transaction, Metis Wealth will be part of Argentis Group, Hurst Point’s financial planning division.

Metis Asset Management will be integrated into Hawksmoor, the investment management arm of Hurst Point Group.

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Hurst Point financial planning division managing director John White said: “We are thrilled to be welcoming Metis into the Group. It has been most enjoyable working closely with founders Simon & George on the transaction over the last six months and we very much look forward to them and the whole team joining the business.

“It is clear that Metis is a first-class financial planning business for high-net-worth clients, and growing our capabilities in this area is an important strategic priority for our business.”

Hurst Point was set up by Carlyle in 2019 in a bid to expand its presence in the wealth management space.

The firm, which has been on a buying spree, has acquired Gore Browne Investment Management, D Heaton and Wealth Creation & Management since the start of June.