H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital, arranged a £55 million ($75.2 million) unitranche financing package for AnaCap Financial Partners in support of its sector growth and consolidation strategy in the UK wealth management platform industry. To date, AnaCap, a specialist European financial services private equity firm, has completed three platform acquisitions as part of its buy and build strategy: Wealthtime, Amber Financial Investments and Novia Financial.
Across the three investments, AnaCap has now acquired almost £11 billion ($15 billion) assets under administration and will continue to deploy its expertise in tech-enabled businesses and operational engagement to bolster the business’ organic expansion and identify attractive bolt-on acquisition opportunities.
“Being able to secure financing through H.I.G. WhiteHorse enabled us to actively pursue our strategy in the UK wealth management space whilst providing us with the comfort of working with a knowledgeable, professional and sophisticated counterparty,” Eric Verret, head of capital markets at AnaCap, said. “We thank H.I.G. for working with us on this transaction.”
“We are delighted to support AnaCap in its acquisitions and integration of leading wealth management platforms, with the combined group now ideally positioned for the opportunities ahead,” Keith Green, principal at H.I.G. WhiteHorse, said. “This transaction highlights H.I.G.’s ability to support an early stage, attractive buy and build strategy in a fragmented market. We look forward to providing additional financial support as the combined group moves through its next phase of growth.”
