More signs that asset managers and FOs are taking growth-through-acquisition routes to attract clients and break new markets.

LJ Partnership, which rebranded as Alvarium Investments this week, added another asset manager to a growing list of acquisitions of boutique firms and FOs, continuing its consolidation trend. The purchase of Iskander, an asset manager serving large private investors, gives the group a presence in France and racks up five acquisitions in eight months, with expansion into the Italian, French and New Zealand markets.

“Our industry is one that continues to undergo considerable consolidation, with more complex products on offer since the GFC. Investors expect greater transparency, control and the opportunity to partner and co-invest with asset managers across a range of sectors, wherever they are in the world,” Andrew Williams and Ken Costa, co-chairs of Alvarium said.

In further M&A activity, Queensgate Investments, a partnership between the Kow Family, Alvarium, Peterson Group and Dilmun, acquired four Central London hotels in a deal worth around £1 billion, the firm said. Alvarium received a boost in July 2018 when Dilmun took a 40 per cent stake in the business.

The firm also announced a deal with London-based media and technology firm Lepe Partners to create Alvarium Merchant Banking Division. The group said that the platform has already supported supply chain payments specialist Tradeshift in raising a $300 million series E round.  

“With our broad range of service offerings now integrated under one strong brand, we look forward to being the merchant bank for all the generations, across multiple asset classes,” it said.  

The group has 11 offices across North America, Europe and Asia Pacific and manages around $15 billion in assets.