Titan Wealth has secured a major investment from US-based private equity firm Parthenon Capital.
A spokesperson for the wealth manager confirmed to International Adviser that financial details are not being disclosed.
Parthenon has a long track record of partnering with management teams to build franchise companies in the wealth management sector. It will work closely with Titan Wealth and its management team to support further growth in the business, including investment in technology and client service. The investment, which is subject to FCA approval, also provides access to additional capital to support future M&A.
Existing investors, Ares, Hambleden Capital and Maven Capital Partners, remain invested and committed to Titan Wealth, the firm said.
Andrew Fearon, joint chief executive & head of M&A at Titan Wealth, described the deal as “a validation of our differentiated client to custody strategy and the partnership positions us well for continued strong organic and inorganic growth”.
Andrew Dodson, managing partner at Parthenon Capital, said: “Titan Wealth is an outstanding business to partner with for our first platform investment in the UK. The management team has demonstrated a strong track record of growth and their vertically integrated, client to custody strategy is differentiated from other players in the wealth management sector. We look forward to this becoming a long and successful partnership.”
Anthony Orazio, partner at Parthenon Capital, added: “We share management’s strategic vision for the company and are excited to partner with James, Andrew, and the entire Titan Wealth team. As longstanding investors in the US wealth market, we have been working for several years to identify a distinctive UK wealth platform to partner with. We are excited to leverage our industry expertise and resources to accelerate investments and build upon Titan Wealth’s success to date.”
See also: Wealth consolidator buys UK advice firm
Titan Wealth also has ambitions for growth outside of the UK, as in October 2022, the group’s asset management arm partnered with DFM consultancy firm Maplesden Griffin & Partners to roll out model portfolios for international market.