Global private equity firm Carlyle Group, the company behind Hawksmoor Investment Management, is to fully acquire Gore Browne Investment Management (GBIM) for an undisclosed sum.
In 2019, Carlyle set up Hurst Point Group to facilitate investment into the UK wealth management sector.
The group currently consists of Harwood Wealth Management, which it acquired in 2020, and Hawksmoor, which it bought in 2021.
Once the acquisition of GBIM completes, it will be merged with Hawksmoor.
Founded in 2004 and based in Salisbury and Harrogate, GBIM provides investment services for private clients, family trusts, charities, pension funds and professional advisers. The two GBIM offices will maintain the Gore Browne name.
With the addition of Hawksmoor’s offices in Exeter, Bath, London, Taunton, Dorchester and Bury St Edmunds, the combined businesses will have eight offices.
The acquisition is subject to Financial Conduct Authority (FCA) approval.
See also: Hawksmoor assets surge to £2.7bn as it absorbs Wellian
Expanded offering
Sarah Soar, Hawksmoor chief executive, said: ‘We are delighted to welcome the GBIM team. It is clear that they share our values and have a strong emphasis on client satisfaction.
“Combining their knowledge and expertise with the Hawksmoor team will allow us to expand our offering across the south and the north east as we welcome the team across two new offices and continue to grow the business.”
Mark Arkwright, chief executive of GBIM, said: “For some time, the Gore Browne board and shareholders have been seeking a partner in the private client sector to invest in our business.
“Crucially, the investor needed to have a known track record of treating clients as individuals and providing bespoke discretionary investment management solutions to them.
“We are delighted to partner with Hawksmoor. We have known and respected their team for many years and feel confident that together we will continue to deliver an exceptionally high quality, personal service to clients.”
See also: Sarah Soar: ‘I’m very keen that Hawksmoor is not just another City firm’
This article was first published on our sister title International Adviser.
