News

Continued high pace of acquisition activity for leading independent investment boutique as it reinforces global position and rebrands to “Alvarium Investments”

- Alvarium completes five acquisitions in eight months in London and globally -

 

HONG KONG, CHINA - Media
OutReach - 21 March 2019 - 
Alvarium
Investments (formerly LJ Partnership, and previously known as Guggenheim Investment Advisors in Hong Kong), a leading
independent global investment boutique, today announced the acquisition of
Iskander,
an asset manager dedicated
to large private investors
, giving it a presence in
France and further strengthening its
international
reach.  This is the fifth transformative
acquisition made by the firm in the last eight months,
extending its capabilities into the Italian, French
and Australasian markets[1].

The
Iskander acquisition comes in the same week that Queensgate Investments, a
partnership between Alvarium Investments, Peterson Group, the Kow Family and Dilmun
acquired four Grange Hotels in Central London in a deal valued at around £1
billion2. 

Alvarium
also recently completed its merger
with London based media, consumer and technology boutique Lepe Partners, creating
a merchant banking platform (Alvarium Merchant Banking Division).  Alvarium Merchant Banking has already
supported tech unicorn Tradeshift in an extension
of its series E round, taking funds raised to $300m in the round.  Tradeshift is the leader in supply chain
payments and marketplaces valued at $1.2bn. 
Investors in the business include Goldman Sachs Group Inc, PSP
Investments, HSBC amongst others.

This week, the firm announced
that it has rebranded as Alvarium Investments, marking a new chapter that sees it consolidating its
existing brands and its position as the leading independent global investment
boutique. Guggenheim Investment Advisors (Hong Kong) Limited, which was
acquired by LJ Partnership in 2016, will also adopt the new company name. Over
the last twelve months, the firm has extended its reach into new geographies
across the US, Europe and Asia Pacific; and developed new investment strategies
in M&A, private equity and technology, to supplement its already strong
position in direct real estate, private debt and public markets.

The Peterson
Group in Hong Kong, a strategic investor in LJ Partnership since 2015,
currently holds a 35% stake in the Group.

Tony Yeung, Chief
Executive Officer of Peterson Group said: "We are pleased to see the rapid
development of the company through organic growth and strategic acquisitions
into an independent investment boutique with a true global footprint under the
new name Alvarium. Peterson would continue to deploy capital side by side with
like-minded families who aspire to construct a global portfolio to diversify
from their core Asian markets through Alvarium. Despite Brexit concerns, Peterson
is excited to continue to source exciting projects such as £1 billion Grange
Hotels transaction and Blackwall Yard3.  We look forward to the firm's expansion in
new areas such as merchant banking,
which
will provide European and Asian family offices and institutional clients with
access to fast growing sectors undergoing disruptive technological and digital
transformation in markets including Greater China.  Asia is a tremendous future market and we
hope to continue to build our infrastructure by building new relationships and
attracting more talent for Alvarium in Hong Kong and greater Asia."

Alvarium's
global expansion plans were given a significant boost in July 2018 when it
received an equity investment from Dilmun, which acquired a 40% stake in the
business. Simultaneously the firm announced the high-profile appointments of
co-Chairman Ken Costa, the former Chairman of Lazard International; and
Partner, Ali Bouzarif, the former Head of Investment Execution at the Qatar
Investment Authority.

Prior to the abovementioned acquisitions, the
firm expanded its international investment advisory business by merging with
Guggenheim Partners' investment advisory groups in Hong Kong, Geneva, Lisbon,
New York and Miami and the London-based Deloitte & Salisbury Partners
investment and consulting teams. This has allowed it to provide unbiased advice
mobilising a global view of research across a wide set of asset classes.
These investments have all served to significantly
ex
pand the access that Alvarium can offer its
clients and shareholders as it seeks to match long term capital with global
investment opportunities. 


Today,
Alvarium employs 200 employees and 25 partners at eleven office locations
across North America, Europe and Asia Pacific.  It supervises in excess of $15bn of assets on
behalf of individuals, families, charities, foundations, institutions and
sovereigns and has to date invested over $3.5bn of equity via its direct real
asset co-investment programme.

Alexander de Meyer, Chief Executive Officer of
Alvarium said: "In recent years we have seen sustained and measured growth,
bringing on and integrating new teams and service offerings for the benefit of
our clients and partners. Today we announce our latest acquisition in France as
well as a rebrand that consolidates our international operations under one
brand.  Both mark an exciting new chapter
for the firm, reinforcing our position as one of the leading independent global
investment boutiques."

He added: "Alvarium is Latin for beehive. Honey
bees have developed a highly effective approach to cooperation and a complex
consultation process to make better decisions. Alvarium shares these qualities
as an international network facilitating collaboration, connection and
co-investment."

Andrew Williams & Ken
Costa, Co-Chairmen of Alvarium said: "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. Matching real
assets to international capital to deliver 
outperformance
across multiple asset classes. Our industry is one that continues to undergo
considerable consolidation, with more complex products on offer since any time
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
. Alvarium
is strongly placed to capitalise on this trend.
"



[1] Acquisitions include:

· Iskander, a French asset manager dedicated to
large private investors (March 2019)

· Casteel Capital, which builds tailor made
investment solutions to Families, High Net Worth Individuals and Private Banks
(February 2019)

· Albacore, a Swiss based multi-family office
specialising in wealth management services for Italian speaking entrepreneurial
families and UHNWI's (November 2018)

· New Zealand
Assets Management Ltd, an Auckland based
boutique investment manager (August
2018)

· Pathfinder
Asset Management, based in New Zealand
  

2 The
portfolio comprises 1,345 Central London rooms, around 930,000 square feet of
real estate
.

 3 Transactions include:

· Blackwall Yard,
expected mixed used development with a total GFA of 810,000 sq.ft.(February
2019)

·  Holiday Inn Express
and Crowne Plaza at Heathrow Airport Terminal 4 (Hotel opened in October 2018)


About Alvarium Investments

Established
in 2009 as LJ Partnership, Alvarium is
an independent global boutique advising institutional and private
clients. 

Built on a traditional merchant banking model, it provides investment
services through three key divisions: (1) investment advisory; (2) co-investments;
and (3) merchant banking advisory.

The firm currently supervises $15bn in assets in Europe, Asia and the
Americas and employs 200 staff and 25 partners at eleven offices, located in
London, New York, Paris, Hong Kong, Geneva, Miami, Milan, Australia and New
Zealand. 

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