AlTi Tiedemann Global Announces Acquisition Of Midwest Family Office, Envoi; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
AlTi Tiedemann Global has acquired Envoi, a family office managing $3.0 billion in assets, as part of its strategy to expand its ultra-high-net-worth wealth management business. This acquisition follows the purchase of East End Advisors and is supported by up to $450 million in funding from Allianz X and Constellation Wealth Capital. AlTi Global, Inc. (NASDAQ:ALTI) aims to become the leading global independent wealth management platform for the UHNW segment.
May 09, 2024 | 8:53 pm
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AlTi Global, Inc. acquires Envoi, enhancing its position in the ultra-high-net-worth wealth management sector with a strategic expansion supported by significant funding.
The acquisition of Envoi by AlTi Global, Inc. is a strategic move to expand its ultra-high-net-worth wealth management services, indicating a positive outlook for ALTI's growth and market position. The use of substantial funding for this acquisition and organic growth activities suggests a strong commitment to expanding its global reach and services, likely leading to increased investor confidence and potentially a positive impact on ALTI's stock price in the short term.
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