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Tidemann Group, Alvarium Investments to Merge via SPAC

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What You Need to Know

  • The new firm will be called Alvarium Tiedemann and trade on the Nasdaq under the ticker GLBL.
  • The deal involves SPAC Cartesian Group Corp., an affiliate of private equity firm Cartesian Capital Group.
  • It is expected to close in the first quarter of 2022 with a valuation of $1.4 billion and $54 billion in assets.

Tiedemann Group and Alvarium Investments announced plans to merge and go public via special-purpose acquisition company Cartesian Group Corp, a newly formed affiliate of private equity firm Cartesian Capital Group.

The combined global company is expected to have $54 billion in assets under management and administration and a post-transaction equity value of approximately $1.4 billion, according to a joint press release. The new company will be known as Alvarium Tiedemann and start trading on the Nasdaq under the GLBL ticker after the deal closes, which is expected in the first quarter of next year.

Tiedemann is based in New York and has offices in eight other states and in Switzerland. Alvarium is headquartered in London with offices in Switzerland, Australia, Hong Kong, Singapore and the U.S.

The new company will have a boutique approach to a globally scaled multi-family office strategy that includes impact investing, trust services, family office services, real estate and private markets, according to the joint press release.

Michael Tiedemann, the chief executive officer of  the Tiedemann Group, will be CEO of the new combined firm; Alexander de Meyer, the CEO of Alvarium, will chair its executive committee. More than 96% of the equity held by active operating partners is expected to be rolled into the combined company and all the proceeds from the merger transaction used to optimize the capital structure of the new firm.

“This a perfect fit strategically as well as culturally with a robust infrastructure positioned for accelerated growth and innovation,” said Peter Yu, chairman and CEO of Cartesian, in a statement.

Tiedemann said, “The combination of talent and geographic reach with Cartesian’s access to capital will provide the permanence needed to continue to grow and evolve a dynamic investment platform.”

DeMeyer said the merger would “not only accelerate growth” but also improve the ability for clients to access to “innovative investment solutions” and ensure “long-term opportunities” for employees.