The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Amber River, Stone Point Capital
Amber River, a UK wealth management advice firm, has been bought by US private equity firm Stone Point Capital to support its next phase of growth. Stone Point is an alternative investment firm, with over $70 billion of assets under management, and experience investing in the wealth management sector. The transaction, for an undisclosed sum, is expected to close this summer, subject to customary regulatory approvals and closing conditions.

Amber River is a financial planning business with regional face-to-face advice at its core, entrusted with £13.6 billion ($18.3 billion) of assets under management and administration (AuMA). It brings together over 330 of UK financial planners, advisors, technical experts and investment professionals who deliver their advice through its 13 regional wealth centres across the UK and two dedicated Centres of Excellence for mortgage advice and investment management.

Founding private equity investor Penta Capital will retain a stake in the business, remaining on board as an investor.

Building on the foundations that have been laid, Amber River’s new partnership with Stone Point brings expertise, capital and support for its next chapter, the firm said in a statement. It also enables Amber River to bring its service proposition – “Life Landscaping” – to a wider audience to help more individuals and families in the UK achieve their financial goals.

Amber River and Penta Capital were advised by Rothschild & Co (financial advisor) and Dickson Minto (legal advisor). Stone Point Capital was advised by Continuum Advisory Partners (financial advisor) and Paul, Weiss (legal advisor).