Key Facts
Initial investment: 17/04/2015
Sector: Financial Services
Fund: Buyout Fund II
Status: Realised
Investment Highlights
- Established Wren Sterling as one of the UK’s largest IFA businesses growing Assets Under Management (AUM) to circa £4.4 billion at exit.
- Augmented the team that joined from Towergate Financial by hiring a new chief executive officer and chief financial officer.
- Completed eight bolt-on acquisitions, growing AUM and profitability. Worked with the business to secure additional funding for bolt-on acquisitions.
- Worked with management to develop an IT strategy focused on maximising efficiencies from CRM and delivering digitisation and automation in producing key AUM data.
- Developed the company’s people strategy by introducing a consultancy firm to provide support to improve training and career development for mid-tier management.
- Successfully exited the business to Lightyear Capital in July 2021
Partnership Motivation
Wren Sterling presented a great opportunity for us to invest in a thriving business operating in a sector with positive market dynamics and growth opportunities. The business employed some great people, and had a clearly defined plan to develop and strengthen its routes to market through intelligent strategies and investment in systems and people. The opportunities available for the business were significant given the highly fragmented nature of the market.
The partnership we have enjoyed with Palatine has been highly successful over the last six years, based on a close, collaborative and supportive relationship. Together we have achieved a huge amount as we professionalised the business, investing significantly in our technology, people and proposition.
Wren Sterling
