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April 22, 2022

Nordic Capital to take over advice business Ascot Lloyd

Private equity company Nordic Capital has agreed to buy independent financial advice (IFA) business Ascot Lloyd for an undisclosed amount.

Under the agreement, Nordic Capital will purchase Ascot Lloyd from funds managed by Oaktree Capital Management.

Oaktree has been an investor in Ascot Lloyd since 2013. It snapped up the firm in 2017.

Besides, it will also buy the interests of Ares Management Corporation.

Nordic Capital will collaborate with Ascot Lloyd to ramp up its organic and inorganic growth, with emphasis on sustainable savings and further development of its digital offering.

The transaction awaits regulatory clearance.

Oaktree Capital Management managing director Federico Alvarez-Demalde said: “Ascot Lloyd has grown to become one of the UK’s leading independently-owned IFA firms.

“Since appointed to lead the investment by the end of 2016, the company has tripled AUM and more than quadrupled revenues, with over 80 acquisitions executed to date.”

Ascot Lloyd offers financial planning, wealth management as well as corporate benefit solutions through its 17 locations in the UK. It has funds under influence worth around £10bn.

The firm has over 20,000 core clients and a workforce of more than 500.  

Nordic Capital Advisors partner and head of Financial Services Christian Frick said: “Nordic Capital is delighted to be acquiring Ascot Lloyd to support its future growth. Nordic Capital has a strong track record within the Financial Services sector and, together with the Company and its high-quality team, will further develop Ascot Lloyd’s client offering and investment management proposition.”

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