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A couple of investment firms managing $54b are SPAC-in’ upINTL

A couple of investment firms managing $54b are SPAC-in’ up

The merger between the two investment companies Tiedemann Group and Alvarium Investments will be listed as Alvarium Tiedemann Holdings, which will go public through a SPAC deal with Cartesian Growth. The estimated value of the operation stands at $1.4b — a valuation backed by the huge asset base of the companies combined, which is approximately $54b. 

Both companies focus on high net worth wealth management and are looking to capitalize on stock market gains. Tiedemann reported annual revenues of $29.5m, while Alvarium cashed in $27.3m. 

why it matters

Both companies have become popular on Wall Street for having led the shift away from fossil fuels towards sustainable resources. Joining forces could prove beneficial to pursue this goal further and convince other wealth management funds to follow suit.