AnaCap signs third acquisition in the UK wealth management platform space with Novia Financial

Novia is the UK’s third largest independent investment and wrap platform by asset under management (“AuM”), having been established in 2008

AnaCap Financial Partners today announces it has signed a deal for a third acquisition in the UK wealth management platform space with the purchase of Novia Financial.

Novia is the UK’s third largest independent investment and wrap platform by asset under management (“AuM”), having been established in 2008. It records an AuM figure of £8.15 billion and serves a client base of ~67,000 through more than 1,000 IFA firms. Novia operates one of the best technology offerings in the industry, spearheaded by its modern, adaptable and proprietary front-end.

Novia’s acquisition marks the third investment from AnaCap in the UK wealth management platform space and this news comes after AnaCap successfully signed Amber Financial Investments in July 2020 and Wealthtime in December 2019.

Across the three investments, AnaCap have now acquired almost £11 billion AuM and will continue to deploy its expertise in tech-enabled businesses and operational engagement to bolster the businesses organic expansion as well as continuing to identify attractive bolt-on acquisition opportunities.

AnaCap has signed 5 private equity deals in 2020 alone with a combined enterprise value greater than €500 million.

Nassim Cherchali, Partner for M&A at AnaCap, commented: “We view this exciting acquisition of Novia as a truly fundamental deal in our strategy across the UK wealth management platform space. The investment means we have vastly increased our fund management and technological capabilities. We look forward to this next chapter, working with Novia’s impressive technology platform to increase its growth via planned investments into distribution and the building of in-house asset management capabilities.”

Bill Vasilieff, Chief Executive Officer at Novia, commented: “Novia was keen to partner with a company that had a strong track record in growing fintech businesses with innovative operational strategies. We believe that AnaCap represents the perfect choice to help us develop and, pending completion, we look forward to an exciting new chapter for the company in 2021 and beyond.”

The investment will be made from AnaCap Financial Partners III, L.P and its completion is subject to regulatory approval. Financial details and terms of the transaction were not disclosed.

Read this next

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

Digital Assets

Big Time Generates over $100M in Revenue since Preseason

Innovative game developer Big Time Studios announces that its highly anticipated free-to-play multiplayer action/MMO RPG Big Time, has generated $100M in revenue. According to the team, players transacted a total volume of over $230M, without selling a single token.

<