The British investment company Cinven Limited held talks with potential consultants on the sale of the division. True Potential for several billion pounds. This is reported by foreign media.
Cinven bought out a controlling stake in True Potential in 2021 for 2 billion pounds.
In recent years, the financial sector has been characterized by asset consolidation amid rising costs of regulation, technology, and operations. At the same time, companies take into account the growing demand for the services of asset management companies. In particular, the British lender NatWest Group Plc bought Evelyn Partners for 2.7 billion pounds, and the Canadian Canaccord Genuity Group Inc. is negotiating the sale of its investment business in the UK to a consortium managed by Centerbridge Partners.
True Potential provides financial advice to clients and manages an investment platform with assets worth 40 billion pounds ($53.3 billion) for 640 thousand clients. The headquarters is located in Newcastle (UK).
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