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

Brown Advisory, Marylebone Partners
Brown Advisory, an independent investment and strategic advisory firm, is planning a partnership with London-based Marylebone Partners LLP to build an endowment-style offering for clients based outside the US.

Marylebone Partners, which was co-founded by CIO Dan Higgins in 2013, serves families, charities, endowments, and trusts.

The alliance will enhance Brown Advisory’s existing offering by providing a greater range of investment opportunities and strategies to meet the developing needs of clients. Specifically, the firm said it will:

-- Provide distinctive and complementary return sources including hard-to-access independently managed funds, co-investment opportunities and direct investments, enhancing the return potential of client portfolios;

-- Strengthen Brown Advisory’s investment team by adding a London allocator with three decades of experience investing in fundamental strategies, including alternatives. Marylebone Partners will bring an extensive database, proprietary investment and risk analytics, and sophisticated portfolio construction tools;

-- Enable the clients of Marylebone Partners to benefit from Brown Advisory’s extensive global resources, infrastructure, and in-house investment expertise;

-- Allow the Marylebone Partners investment team to source and manage high-return potential, differentiated investments for their clients; and

-- Provide Marylebone Partners’ clients with access to Brown Advisory’s direct equity and fixed income strategies.

Marylebone Partners’ team will remain responsible for the management of its client portfolios, The firm is also expected to continue as the investment manager of Majedie Investments PLC, an investment trust with a ‘liquid endowment’ strategy.

Upon completion of the transaction – which is subject to regulatory approval – Marylebone Partners’ principals will convert their ownership interests into Brown Advisory’s equity.

“We are always looking to improve and build our service for clients, by offering a broader range of investment opportunities and strategies that meet their bespoke needs,” Logie Fitzwilliams, (main picture left) co-CEO of Brown Advisory, said. “With the Marylebone Partners team onboard, this will enhance our ability to serve endowment, family, and trust clients with an increasingly differentiated investment platform.”

“The current environment presents some of the most compelling investment opportunities we have seen since founding the firm and, working within Brown Advisory, we will be able to take full advantage,” Dan Higgins (main picture right), co-founder, partner, and chief investment officer of Marylebone Partners, added. “Our clients’ portfolios will continue to be managed by the team they know, with our capabilities enhanced by greater investment resources, research and expertise.”