London-headquartered global family office Alvarium Investments has agreed to merge with US wealth management firm Tiedemann Group.
The Tiedemann and Alvarium groups intend to combine via special purpose acquisition company Cartesian Growth Corporation to form New York-headquartered Alvarium Tiedemann, which will be an independent global wealth and asset manager with offices across four continents, 11 countries and 25 cities.
The combined company is expected to oversee $54bn (£39.5bn, €46.1bn) in assets under management (AuM) and assets under advisement (AuA) on behalf of families and institutions around the world. It will also have post-transaction equity value of approximately $1.4bn.
It will offer impact or values-aligned investing, trust, family office, governance, global real estate, and private markets services.
Current Tiedemann Group chief executive Michael Tiedemann will serve as Alvarium Tiedemann’s chief executive, while current Alvarium Investments boss Alexander de Meyer will chair the firm’s executive committee.
Finances
The merger will be funded through a combination of Cartesian’s cash in trust and approximately $165m of shares of common stock of Cartesian Growth Corporation in a private investment in public equity.
This was carried out by institutional investors, as well as strategic partners from Tiedemann and Alvarium.
Following the closing of the transaction, which is anticipated in Q1 2022, Alvarium Tiedemann’s common stock will become publicly traded on Nasdaq.
‘Unified vision’
Michael Tiedemann said: “We are thrilled to partner with Alvarium to establish a truly unique, global investment firm in Alvarium Tiedemann.
“Alvarium brings a culture of entrepreneurism and a breadth of global capabilities and expertise that will complement our existing client experience. I believe the combination of talent and geographic reach with Cartesian’s access to capital will provide the permanence needed to continue to grow and evolve a dynamic investment platform.
“We have a unified vision that is committed to diversity and inclusion, serving our clients and continuing on our path to becoming a differentiated leader in investment strategies and services.”
De Meyer added: Upon our introduction to Tiedemann, we were immediately struck by how complementary the firms were, from investment philosophy to client service and firm culture. This alignment made Tiedemann an optimal partner as we look to expand our global footprint particularly in the US.
“I am confident this combination will accelerate the growth of our combined firms, improving our ability to help our clients access innovative investment solutions and ensuring long-term opportunities for our employees.”
Background
Alvarium is an independent investment firm, global multi-family office and merchant banking boutique providing solutions for families, foundations and institutions across the Americas, Europe and Asia Pacific.
Tiedemann Advisors is an independent investment and wealth adviser for high net worth individuals, family offices, trusts, foundations and endowments. Founded in 1999, Tiedemann Advisors has nine offices across the US and provides trust services through Tiedemann Trust Company.
Tiedemann’s international operations, Tiedemann Constantia, is headquartered in Zurich, Switzerland.
