Alvarium, an asset management company that owns Pathefinder and financial planning firm Newton Ross, will be part of a NASDAQ-listed company.
Friday, September 24, 2021 7:16 AM
Alvarium will join the US-based Tiedemann Group and be listed on NASDAQ through a special purpose company (SPAC).
The listing is part of a merger between Alvarium and the US-based Tiedemann Advisors and Tiedemann Investment Group. The two companies will merge with Cartesian Growth Corporation (SPAC) to form Alvarium Tiedmann Capital.
The merged company will have US $ 54 billion in assets under its control and will have 350 employees in 29 offices worldwide.
The company is expected to have a share value of US $ 1.5 billion after listing.
Alvarium Investments NZ is 46% owned by Alvarium and 46% owned by Tailorspace. This is a family-owned company of New Zealand’s rich lister Ben Gough. The remaining 8% is owned by Bhive Gold, a company owned by Brett Gamble.
Alvarium Tiedemann Capital is an independent global asset management company that provides entrepreneurs, multi-generational families, institutions and emerging next-generation leaders with trustee capabilities, alternative investment ideas and strategic advisory services.
From an operational perspective, the merger will not have a significant impact on Alvarium’s business in New Zealand, which was established as a joint venture partnership with Tailor Space.
Andrew Williams, co-founder of Alvarium, managing director of Alvarium Investments NZ, said the integration of Tiedemann and Alvarium will provide unique opportunities for the size of the integrated entity and investors.
“Alvarium offers professional services and access to a market that has just expanded into the North American market through this groundbreaking transaction, which no one else in New Zealand offers,” said Global Real Estate Responsibility. Williams, who is a member of the executive committee of the new entity, said. ..
Christchurch-based Gough said the deal has significantly strengthened the company’s footsteps at home and abroad.
“This hasn’t changed much from day to day for Kiwi investors, but it creates exciting and unique opportunities to access quality fund managers across previously unavailable real estate, private equity and venture funds. “
Newyork-based Michael Tiedemann will be the CEO of the newly merged entity. Based in New Zealand, Andrew Williams will continue to be Global Head and Chief Executive Officer of New Zealand’s real estate sector.
The decision to merge the two companies is the result of two years of discussion between Alvarium and Tiedemann.
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