Wealth Management

Wealth manager Shackleton eyed takeover that could have tripled assets

Wealth manager could buy a number of firms larger than itself as it looks for a new owner, documents reveal

Private equity firms continue discussions as sale process for ‘Britain’s wealth manager’ marches on
Private equity firms continue discussions as sale process for ‘Britain’s wealth manager’ marches on Photo: Getty Images

Shackleton held talks with a fellow wealth manager about a takeover that could have tripled its assets under management, Financial News has learned.

“Active discussions” took place with a private equity-backed wealth manager roughly twice the size of Shackleton at the time, according to an information memorandum prepared by bankers at Lazard who are currently trying to offload the business.

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