Ares Management and Maven Capital Partners back acquisitive new business

Private equity groups Ares Management and Maven Capital Partners have teamed up with a family office to back the launch of an acquisitive new business in the UK wealth and asset management market.

Titan Wealth Holdings is launching with two acquisitions: Tavistock Wealth, a multi-asset manager with £1bn in assets under management for retail clients, and Global Prime Partners, which has £2bn in assets under administration and provides execution, settlement and custody services.

It wants to grow assets under management to a target £20bn-£30bn over the next five years through more deals, and is seeking to take advantage of a fragmented market for discretionary fund managers. The new group will bring fund management, administration and a technology platform all under one roof.

The launch of Titan comes as consolidation is sweeping across the wealth and asset management industries. Groups that run money on behalf of demographics ranging…

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