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AnaCap Completes Third Deal In UK Wealth Management Space

Financial services specialist private equity firm AnaCap Financial Partners has signed a deal for its third acquisition in the UK wealth management space with the purchase of Novia Financial, the UK’s third largest independent investment and wrap platform by asset under management. Novia records an AUM figure of £8.15bn and serves a client base of approximately 67,000 through more than 1,000 IFA firms.

Nassim Cherchali, Partner for M&A at AnaCap, commented:

“We view this exciting acquisition of Novia as a truly fundamental deal in our strategy across the UK wealth management platform space. The investment means we have vastly increased our fund management and technological capabilities. We look forward to this next chapter, working with Novia’s impressive technology platform to increase its growth via planned investments into distribution and the building of in-house asset management capabilities.

Novia’s acquisition marks the third investment from AnaCap in the UK wealth management platform space and comes from from AnaCap Financial Partners III, L.P. AnaCap signed Amber Financial Investments in July 2020 and Wealthtime in December 2019. Across the three investments, AnaCap has now acquired almost £11bn AUM.

Completion of the deal is subject to regulatory approval. Financial details and terms of the transaction were not disclosed.

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