Cinven explores multibillion-pound sale of True Potential
Cinven is exploring a potential sale of UK wealth management platform True Potential, which could value the business at several billion pounds, according to Bloomberg. The private equity firm has reportedly held preliminary discussions with potential advisers about a transaction, although deliberations remain at an early stage and there is no certainty a sale will proceed. Cinven acquired a…
Bloomberg reports that investment firm Cinven is exploring the possibility of selling UK wealth management platform True Potential, which could be worth several billion pounds. The private equity company has reportedly held early-stage talks with potential advisers about a potential transaction, though no final decision has been made.
Cinven acquired a majority stake in the Newcastle-based business in 2021 for up to £2bn. True Potential, founded in 2007, offers financial advice and investment management services to more than 640,000 clients and manages assets exceeding £40bn. The potential sale would fit into a trend of consolidation in the UK wealth management sector, driven by increasing regulatory and technology expenses, coupled with the rising demand for financial advice.
Notable recent deals include NatWest's £2.7bn acquisition of Evelyn Partners and Canaccord Genuity's potential sale of its UK wealth management operations to a group headed by Centerbridge Partners. Cinven declined to comment on the possibility of a sale.
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