Titan Wealth Holdings (Titan) has secured a major investment from US-based private equity house Parthenon Capital to support its future acquisition and growth plans.
Titan, a discretionary fund management/wealth and asset management business, said it would use the investment to enhance its technology and client service proposition which would strengthen its delivery of integrated investment and platform services. It said it also planned to carry out a merger and acquisition (M&A) strategy.
Parthenon will become Titan's majority shareholder and the deal is its first in the UK platform market.
Titan Wealth joint chief executive (CEO) and head of M&A Andrew Fearon said the backing was validation of its differentiated client to custody strategy.
He added that the partnership positioned the business for continued strong organic and inorganic growth.
Joint CEO and executive chairman James Kaberry added: "Andrew and I are very proud of what our team has accomplished in a short period of time. Parthenon has deep financial services expertise and, with their support, we will continue to provide innovative, industry-leading solutions to the wealth management sector."
Parthenon Capital managing partner Andrew Dodson said the management team had demonstrated a strong track record of growth and its "vertically integrated, client to custody strategy is differentiated from other players in the wealth management sector".
Parthenon Capital partner Anthony Orazio said: "As longstanding investors in the US wealth market, we have been working for several years to identify a distinctive UK wealth platform to partner with. We are excited to leverage our industry expertise and resources to accelerate investments and build upon Titan Wealth's success to date."
Existing Titan Wealth investors, Ares, Hambleden Capital and Maven Capital Partners will remain invested and committed to the business.
Titan said it was targeting £50bn in assets under administration over the next three to five years and assets under management of £40bn.
