Funds advised by Permira originally invested in Evelyn forerunner Bestinvest in 2014, before the private equity feeding frenzy started in earnest in 2019/20. Tilney, Towry and Smith & Williamson were bought over time. Warburg Pincus became a minority investor during the last acquisition in 2020.
Announcing its decade-in-the-making exit this week, Permira managing director Chris Pell said the 2014 investment represented a belief UK wealth management would “increasingly reward scale, advice-led models and institutional investment standards”. To prove the point, under Permira assets under …
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