Credit: Constantin Wenning on Unsplash.

Investment companies Tiedemann Group and Alvarium Investments are reportedly planning to merge and go public via a special purpose acquisition company (SPAC).

According to people familiar with the matter, the combined company will operate as Alvarium Tiedemann Holdings. It will be valued at nearly $1.4bn in the deal with SPAC, Cartesian Growth.

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The merged company is estimated to have approximately $54bn in assets under management and advisement. This will follow the combination of Tiedemann’s US focus with Alvarium’s worldwide footprint.

Tiedemann runs nine offices across the US with international operations based in Switzerland.

Meanwhile, Alvarium has headquarters in London and offices in Switzerland, Hong Kong, Singapore, Melbourne and the US.

Both companies are said to focus on high-net-worth wealth management.

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Tiedemann chief executive Michael Tiedemann is anticipated to become the combined company’s CEO while Alvarium chief executive Alexander de Meyer becomes chair of its executive committee.

The companies are expected to raise nearly $165m in private investment in public equity (PIPE) related to the deal. PIPE investors could include strategic partners of both Tiedemann and Alvarium.

With $345m on hand, the SPAC Cartesian Growth is supported by private equity firm Cartesian Capital Group and led by Peter Yu, former CEO of AIG Capital Partners.

In March this year, Alvarium Wealth was reported to have acquired the remaining stake in New Zealand-based ethical fund manager Pathfinder Asset Management.