- Alvarium completes five acquisitions in eight months in London and globally -
HONG KONG, CHINA - MediaOutReach - 21 March 2019 - AlvariumInvestments (formerly LJ Partnership, and previously known as Guggenheim Investment Advisors in Hong Kong), a leadingindependent global investment boutique, today announced the acquisition ofIskander, an asset manager dedicatedto large private investors, giving it a presence inFrance and further strengthening its internationalreach. This is the fifth transformativeacquisition made by the firm in the last eight months, extending its capabilities into the Italian, Frenchand Australasian markets.
TheIskander acquisition comes in the same week that Queensgate Investments, apartnership between Alvarium Investments, Peterson Group, the Kow Family and Dilmunacquired four Grange Hotels in Central London in a deal valued at around £1billion2.
Alvariumalso recently completed its mergerwith London based media, consumer and technology boutique Lepe Partners, creatinga merchant banking platform (Alvarium Merchant Banking Division). Alvarium Merchant Banking has already supported tech unicorn Tradeshift in an extensionof its series E round, taking funds raised to $300m in the round. Tradeshift is the leader in supply chainpayments and marketplaces valued at $1.2bn. Investors in the business include Goldman Sachs Group Inc, PSPInvestments, HSBC amongst others.
This week, the firm announcedthat it has rebranded as Alvarium Investments, marking a new chapter that sees it consolidating itsexisting brands and its position as the leading independent global investmentboutique. Guggenheim Investment Advisors (Hong Kong) Limited, which wasacquired by LJ Partnership in 2016, will also adopt the new company name. Overthe last twelve months, the firm has extended its reach into new geographiesacross the US, Europe and Asia Pacific; and developed new investment strategiesin M&A, private equity and technology, to supplement its already strongposition in direct real estate, private debt and public markets.
The PetersonGroup in Hong Kong, a strategic investor in LJ Partnership since 2015,currently holds a 35% stake in the Group.
Tony Yeung, ChiefExecutive Officer of Peterson Group said: "We are pleased to see the rapiddevelopment of the company through organic growth and strategic acquisitionsinto an independent investment boutique with a true global footprint under thenew name Alvarium. Peterson would continue to deploy capital side by side withlike-minded families who aspire to construct a global portfolio to diversifyfrom their core Asian markets through Alvarium. Despite Brexit concerns, Petersonis excited to continue to source exciting projects such as £1 billion GrangeHotels transaction and Blackwall Yard3. We look forward to the firm's expansion innew areas such as merchant banking, whichwill provide European and Asian family offices and institutional clients withaccess to fast growing sectors undergoing disruptive technological and digitaltransformation in markets including Greater China. Asia is a tremendous future market and wehope to continue to build our infrastructure by building new relationships andattracting more talent for Alvarium in Hong Kong and greater Asia."
Alvarium'sglobal expansion plans were given a significant boost in July 2018 when itreceived an equity investment from Dilmun, which acquired a 40% stake in thebusiness. Simultaneously the firm announced the high-profile appointments ofco-Chairman Ken Costa, the former Chairman of Lazard International; andPartner, Ali Bouzarif, the former Head of Investment Execution at the QatarInvestment Authority.
Prior to the abovementioned acquisitions, thefirm expanded its international investment advisory business by merging withGuggenheim Partners' investment advisory groups in Hong Kong, Geneva, Lisbon,New York and Miami and the London-based Deloitte & Salisbury Partnersinvestment and consulting teams. This has allowed it to provide unbiased advicemobilising a global view of research across a wide set of asset classes. These investments have all served to significantlyexpand the access that Alvarium can offer itsclients and shareholders as it seeks to match long term capital with globalinvestment opportunities.
Today,Alvarium employs 200 employees and 25 partners at eleven office locationsacross North America, Europe and Asia Pacific. It supervises in excess of $15bn of assets onbehalf of individuals, families, charities, foundations, institutions andsovereigns and has to date invested over $3.5bn of equity via its direct realasset co-investment programme.
Alexander de Meyer, Chief Executive Officer ofAlvarium said: "In recent years we have seen sustained and measured growth,bringing on and integrating new teams and service offerings for the benefit ofour clients and partners. Today we announce our latest acquisition in France aswell as a rebrand that consolidates our international operations under onebrand. Both mark an exciting new chapterfor the firm, reinforcing our position as one of the leading independent globalinvestment boutiques."
He added: "Alvarium is Latin for beehive. Honeybees have developed a highly effective approach to cooperation and a complexconsultation process to make better decisions. Alvarium shares these qualitiesas an international network facilitating collaboration, connection andco-investment."
Andrew Williams & KenCosta, Co-Chairmen of Alvarium said: "Withour broad range of service offerings now integrated under one strong brand, welook forward to being the merchant bank for all the generations. Matching realassets to international capital to deliver outperformanceacross multiple asset classes. Our industry is one that continues to undergoconsiderable consolidation, with more complex products on offer since any timesince the GFC, investors expect greater transparency, control and theopportunity to partner and co-invest with asset managers across a range ofsectors, wherever they are in the world. Alvariumis strongly placed to capitalise on this trend."
 Acquisitions include:
· Iskander, a French asset manager dedicated tolarge private investors (March 2019)
· Casteel Capital, which builds tailor madeinvestment solutions to Families, High Net Worth Individuals and Private Banks(February 2019)
· Albacore, a Swiss based multi-family officespecialising in wealth management services for Italian speaking entrepreneurialfamilies and UHNWI's (November 2018)
· New ZealandAssets Management Ltd, an Auckland based boutique investment manager (August2018)
· PathfinderAsset Management, based in New Zealand
2 Theportfolio comprises 1,345 Central London rooms, around 930,000 square feet ofreal estate.
3 Transactions include:
· Blackwall Yard,expected mixed used development with a total GFA of 810,000 sq.ft.(February2019)
· Holiday Inn Expressand Crowne Plaza at Heathrow Airport Terminal 4 (Hotel opened in October 2018)
About Alvarium Investments
Establishedin 2009 as LJ Partnership, Alvarium isan independent global boutique advising institutional and privateclients.
Built on a traditional merchant banking model, it provides investmentservices through three key divisions: (1) investment advisory; (2) co-investments;and (3) merchant banking advisory.
The firm currently supervises $15bn in assets in Europe, Asia and theAmericas and employs 200 staff and 25 partners at eleven offices, located inLondon, New York, Paris, Hong Kong, Geneva, Miami, Milan, Australia and NewZealand.