PORTFOLIO — Financial SERVICES

WEALTH at work

WEALTH at work is a leading provider of financial education and employee wealth management services in the workplace.

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Key Facts

Initial investment: 04/11/2011

Sector – Financial Services

Fund — Buyout Fund I

Status — Realised

Investment Highlights

  • Appointed former UK chief executive of Mercer, Alan Whalley, who has vast experience and knowledge of the benefits and pension industry, as non-executive Chair.
  • Completed two acquisitions which enhanced Assets under Management and broadened the customer base.
  • Significant investment in IT systems and infrastructure in the wealth management platform to support growth.
  • Grew Assets under Management to over £700m at exit.
  • Completed successful exit via a £50m tertiary management buyout backed by Equistone, achieving a 3.5x return on investment in 2015. We also co-invested for a minority stake alongside Equistone.

Partnership Motivation

WEALTH at work was well-positioned to benefit from significant regulatory changes to the wealth management sector which will lead to employers providing enhanced financial education services to their employees. This created opportunities for significant growth, both organically and via strategic acquisition, in a fast-changing market.

“It has been a pleasure working with David and the management team. The business has developed an excellent reputation in the marketplace and has successfully capitalised on the need for improved engagement with employers, so we’re excited about its prospects over the next few years.”

Gary Tipper
Managing Partner, Palatine

Investment Team