Titan Wealth Holdings [Titan Wealth] is delighted to announce a major new investment in the group from Parthenon Capital [Parthenon]. Parthenon will work closely with Titan Wealth and the management team to support further growth in the business, including investment in technology and best-in-class client service, enhancing Titan’s ability to deliver comprehensive, integrated investment and platform services through its client to custody strategy. This investment also provides access to additional capital to support future M&A. The investment is subject to FCA approval.
Andrew Fearon, Joint CEO & Head of M&A at Titan Wealth, said: “This is fantastic news for Titan Wealth and our future growth plans. It is a validation of our differentiated client to custody strategy and the partnership positions us well for continued strong organic and inorganic growth. Parthenon is a standout investor and we look forward to working with them.”
James Kaberry, Joint CEO & Executive Chairman at Titan Wealth, added: “Andrew and I are very proud of what our team has accomplished in a short period of time. Parthenon has deep financial services expertise and, with their support, we will continue to provide innovative, industry-leading solutions to the wealth management sector.”
Andrew Dodson, Managing Partner at Parthenon Capital, said: “Titan Wealth is an outstanding business to partner with for our first platform investment in the UK. The management team has demonstrated a strong track record of growth and their vertically integrated, client to custody strategy is differentiated from other players in the wealth management sector. We look forward to this becoming a long and successful partnership.”
Anthony Orazio, Partner at Parthenon Capital, added: “We share management’s strategic vision for the company and are excited to partner with James, Andrew, and the entire Titan Wealth team. As longstanding investors in the U.S. wealth market, we have been working for several years to identify a distinctive UK wealth platform to partner with. We are excited to leverage our industry expertise and resources to accelerate investments and build upon Titan Wealth’s success to date.”
Parthenon is a leading US-based, private equity firm with a long track record of partnering with management teams to build franchise companies in the wealth management sector. Parthenon will become the majority shareholder in Titan, which represents its first platform investment in the UK.
Existing Titan Wealth investors, funds managed by Ares Management and Maven Capital Partners will remain invested and committed to the business.
Titan Wealth was advised by Myles Phillips, Continuum Advisory Partners and Ross Allardice, White & Case. Kirkland & Ellis LLP served as legal counsel and Evercore acted as financial adviser to Parthenon.
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About Titan Wealth
Titan is a discretionary fund management / wealth and asset management business. Targeting £50 billion in assets under administration over the next three to five years and assets under management of £40 billion, Titan aims to bring high-quality execution and administration to the asset and wealth management sector. Titan provides execution, custody, clearing and wealth management services to small and medium sized broker dealers, proprietary traders, intermediaries, family offices and wealth managers and platform services, custody and investment solutions to financial advisors, family offices, retail clients and institutions via a network of trusted intermediaries.
Titan is led by a highly experienced management team with deep expertise across ¬financial services and is supported by Ares Management and Maven Capital Partners. Its management team comprises: James Kaberry, an experienced entrepreneur and founder of Pantheon Financial Management, which grew to be one of the UK’s largest ¬financial advisory firms; Andrew Fearon, who has been active in UK wealth management and a founder of one of the biggest UK IFA consolidators, as well as raising funds for other UK IFA consolidators; Damian Sharp, whose ¬financial services career spans over 30 years, with the greater part spent at Pantheon Financial Management Ltd where as Managing Director he steered the group through its RDR rationalisation to its ultimate sale to Ascot Lloyd; Ken Coveney who brings nearly three decades of experience to Titan, having previously held the role of CFO at Crown Agents Group, Alcumus Group and most recently at Corona Corporate Solutions; and Julian Parker, founding partner and Chairman of GPP. GPP is a trading name of Global Prime Partners.
About Parthenon Capital
Parthenon Capital is a leading mid-market private equity firm with offices in Boston, San Francisco, and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare and business services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how.