Hurst Point completes acquisition of Hawksmoor Group
Private equity firm Hurst Point Group has fully acquired Hawksmoor Group, completing the transaction on 1 March 2021.
Investment management firm Hawksmoor will become a separate subsidiary of Hurst Point.
Hawksmoor CEO Sarah Soar said: “Today marks a landmark in the history of Hawksmoor. Becoming part of the Hurst Point Group gives us support to grow and develop our investment and fund management business in line with our strategic objectives, as well as to improve our ability to deliver the highest quality service to our clients.”
Ian Gladman, executive chairman of Hurst Point Group added: “Hawksmoor’s investment and fund management expertise and their distinctive offerings bring a new dimension to the group, creating benefits to clients and opportunities for the future. We are already working together to deliver the future benefits of our partnership.”
The transaction will allow Hawksmoor shareholders, including many who supported the company’s launch, to realise the value for their investment in the company.
A number of “key” Hawksmoor shareholders, the majority of whom are staff, have agreed to roll over a portion of their holdings into shares in Hurst Point, the company said.
Hurst Point Group was established in 2019 to facilitate investment by The Carlyle Group into the UK wealth management sector.
It made its first investment in March 2020 with the acquisition of Harwood Wealth Management via a public scheme of arrangement.