$65 Billion Multi-Family Office AlTi Tiedemann Acquires Singapore AL Wealth Partners with $1.1 Billion AUM with CEO Anthonia Hui Appointed as Head of Singapore, Founded by Anthonia Hui & Leonardo Drago in 2007
17th May 2023 | Singapore
One of the world’s largest multi-family office AlTi Tiedemann Global with $65 billion AUM has acquired Singapore-based AL Wealth Partners with $1.1 Billion AUM (Assets under Management), with CEO Anthonia Hui appointed as Head of Singapore (International Wealth Management). AL Wealth Partners is founded by CEO Anthonia Hui & CIO Leonardo Drago in 2007. AlTi Tiedemann is the merger of 2 world’s top multi-family offices (MFOs) $30 billion Tiedemann Group (United States) and $30 billion Alvarium Investments (United Kingdom) in 2023 January. More info below:
“ $65 Billion Multi-Family Office AlTi Tiedemann Acquires Singapore AL Wealth Partners with $1.1 Billion AUM with CEO Anthonia Hui Appointed as Head of Singapore, Founded by Anthonia Hui & Leonardo Drago in 2007 “
Michael Tiedemann, Chief Executive Officer of AlTi: “Having a presence in Singapore is critical in today’s evolving wealth and asset management landscape, and we are excited to expand into this key market. This deal executes on our long-term growth strategy focused on complementary and accretive acquisitions in core growth areas. With the local expertise and knowledge that ALWP brings, and AlTi’s focus on tailored advice and impact solutions, the combination offers a truly differentiated approach to wealth and asset management to Singapore. We aim to partner with our clients for generations to come, giving our current and future clients long-term financial stability and security.”
Robert Weeber, AlTi’s President, International Wealth Management: “Anthonia and Leonardo’s entrepreneurial and client-centric approach is a great fit for AlTi, and I very much look forward to working with the team in the years to come as we build and grow the business to better serve client needs. Singapore’s commitment to a purpose-led approach to managing wealth very much mirrors our own, and as an entrepreneurial business, we understand first-hand the challenges clients are encountering and how best to navigate these. At the same time, our global network offers increased access to proprietary investment opportunities in real estate and the innovation economy.”
Anthonia Hui, AlTi’s Head of Singapore, International Wealth Management: “Leonardo and I are delighted to be joining AlTi, as our values and culture are aligned, and will add further depth to AlTi’s global ecosystem. AlTi’s international reach, capabilities and access to proprietary investments will open new and unique opportunities for clients, as well as supporting our ability to serve the sophisticated and developing needs of the increasingly global and entrepreneurial client families in Singapore.”
AlTi Tiedemann Global is a leading independent global wealth and asset manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi’s comprehensive offering is underscored by a commitment to impact or values-aligned investing and generating a net positive impact through its business activities. The firm currently manages or advises on approximately $65 billion in combined assets and has an expansive network with over 450 professionals across three continents.
$65 Billion Multi-Family Office AlTi Tiedemann Acquires Singapore AL Wealth Partners with $1.1 Billion AUM with CEO Anthonia Hui Appointed as Head of Singapore, Founded by Anthonia Hui & Leonardo Drago in 2007
AlTi Tiedemann: “AL Wealth Partners significantly expands AlTi’s presence and capabilities in an important growth region for Ultra High Net Worth Individuals (“UHNWI”), building on AlTi’s existing presence in Hong Kong. Singapore has experienced an influx of wealth in recent years and has become a key hub for UHNWI and a leading location for family offices.
Since 2017 the number of family offices in Singapore has grown more than 9 times, from approximately 80 to over 700 today, aided by its conducive economic backdrop, pragmatic taxation regime and a disciplined and diverse workforce which allows for innovation. As family offices demand more impact and philanthropic solutions, AlTi brings industry leading capabilities in integrating purpose and impact. In alignment with the Government of Singapore’s drive to develop Singapore as a hub for Impact and Philanthropy, AlTi is positioned to support family offices to actively manage the impact of their wealth at all stages.
AL Wealth Partners was founded in 2007 by self-made entrepreneurs Anthonia Hui and Leonardo Drago to focus on the needs of UHNWI and family offices. Anthonia and Leonardo will continue to lead the growth of AlTi’s Wealth Management offering in Singapore, as part of AlTi’s International Wealth Management business which is led by Robert Weeber. The transaction reflects AlTi’s long-term commitment to support a growing local client base. AlTi’s global reach, perspectives and infrastructure, coupled with AL Wealth Partners local expertise, will enable AlTi to serve the changing needs of Singapore and Asia’s entrepreneurial, increasingly global and sophisticated client base.”
Top Multi-Family Offices Tiedemann & Alvarium Merged as Alvarium Tiedemann with $60 Billion AUM, SPAC Merger via Cartesian Growth Corporation with $1.4 Billion Value
14th January 2023 – The world’s top multi-family offices (MFOs) $30 billion Tiedemann Group (United States) and $30 billion Alvarium Investments (United Kingdom) have completed their SPAC merger via Cartesian Growth Corporation (3/1/23), with the new entity operating as Alvarium Tiedemann with a combined $60 billion AUM (Assets under Management). The combined business via SPAC merger Alvarium Tiedemann has a pro forma equity value of $1.4 billion, has 400 professionals and focusing only on high net worth clients. Michael Tiedemann, who left Credit Suisse First Boston and teamed up with his father (fund manager) to setup Tiedemann Group in 1999, is appointed the new CEO of Alvarium Tiedemann.
Michael Tiedemann, CEO of Alvarium Tiedemann: “We’ve established a truly distinctive, global wealth and asset management firm with a breadth of international capabilities and access to an entrepreneurial network. Today marks our next chapter. AlTi has a remarkable Board of Directors and leadership team to steward this new phase of growth. In 2023, we plan to capitalize on the opportunity to provide our clients and partners with best-in-class financial advisory services, access to alternative investment opportunities and a leading impact investing offering. Thank you to all of our stakeholders as well as the Cartesian team for their unwavering support and exceptional effort over this past year.”
Peter Yu, Chairman and CEO of Cartesian: “We are pleased to complete the business combination and are excited to introduce Alvarium Tiedemann’s differentiated platform and offering to the public markets. AlTi serves a large and growing market and has the global ecosystem to provide truly customized independent advisory services and compelling investment opportunities aligned with changing client needs.”
Alvarium Tiedemann – AlTi is a leading independent global wealth and asset manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi’s comprehensive offering is underscored by a commitment to impact or values-aligned investing and generating a net positive impact through its business activities. The firm currently manages or advises on approximately $60 billion in combined assets and has an expansive network with over 400 professionals across four continents. For more information, please visit us at www.Alti-global.com.
Top Multi-Family Offices Tiedemann & Alvarium Merger as Alvarium Tiedemann with $60 Billion AUM, SPAC Merger via Cartesian Growth Corporation
3rd Jan 2023 – Tiedemann Group (“Tiedemann”), Alvarium Investments Limited (“Alvarium”) and Cartesian Growth Corporation (“Cartesian”) (NASDAQ: GLBL) announced today that they have completed their previously announced business combination (the “Business Combination”). The Business Combination was approved at an extraordinary general meeting of stockholders of Cartesian on November 17, 2022, and closed today, January 3, 2023.
The combined company now operates as Alvarium Tiedemann Holdings, Inc. (“Alvarium Tiedemann” or “AlTi”) and its Class A common shares and warrants will begin trading on NASDAQ under the ticker symbols “ALTI” and “ALTIW,” respectively, starting tomorrow, January 4, 2023.
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