Quick-growing wealth supervisor and Monetary Planner Söderberg & Companions’ has raised a further €265m (£225m) funding from minority homeowners KKR and TA via a brand new share subject.
Following the difficulty, Söderberg will proceed to be managed by its founders and chairman of the board and supported by KKR and TA.
The brand new capital can be used to help Söderberg’s continued growth, with a selected give attention to the UK and Spain.
Söderberg, certainly one of Sweden’s largest wealth managers, has invested in a rising variety of UK recommendation companies previously two years, sometimes taking sizeable minority stakes.
In Might it invested in 4 UK IFA corporations to deliver the overall of UK corporations invested in by the agency to 11.
Additionally in Might it took a major minority stake in IFA consolidator Cardan.
Gustaf Rentzhog, chief govt and co-founder of Söderberg & Companions mentioned: “We see that our enterprise within the UK is working, and we now wish to scale it up even sooner.
“We see many alternatives and have excessive ambitions to turn out to be one of many main gamers within the UK inside a number of years.
“Our focus space proper now could be to create considerably extra environment friendly administration in our corporations by making use of the expertise used inside our group, which we all know works.”
Hans Arstad, managing director at KKR and chargeable for the corporate’s European non-public fairness operations within the Nordic area, mentioned: “Söderberg & Companions has continued to efficiently broaden its platform throughout Europe, additional creating its product portfolio and enhancing its confirmed capabilities. We sit up for persevering with our work with them through the years to come back.”
Chris Parkin, managing director and co-head of enterprise Sservices at TA, mentioned: “TA initially invested in Söderberg & Companions ten years in the past when it was a Swedish-only enterprise. Since then, Gustaf and workforce have rolled out their distinctive mannequin not solely within the Nordics, but in addition throughout the Netherlands, Spain and the UK. We sit up for supporting its subsequent chapter of worldwide growth.”
• Monetary Planning At this time Snap Evaluation: This newest spherical of fund elevating suggests Söderberg & Companions is planning important additional growth within the UK. Nonetheless its acquisition technique units it other than different acquisitive Monetary Planning corporations. It continues to give attention to shopping for important stakes in Monetary Planning corporations however usually avoiding a full takeover. This makes its cash go additional and positions it for potential full acquisition in a while ought to it want to take action. Eventually it’s seemingly it’s going to convert a few of these stakes into full possession. These ‘funding’ stakes are a departure from the standard Monetary Planning mannequin within the UK which favours full acquisition. Solely time will inform if Söderberg & Companions has made the proper resolution.
