Key Takeaways
- • Aspirity Partners, a private equity firm, has invested $135m in Hoxton Wealth, marking the expatriate wealth manager's first external funding round, according to Bloomberg.
- • Hoxton Wealth, founded in 2018 and headquartered in London and Dubai, operates across 10 jurisdictions, serves about 10,000 clients and manages more than $5bn in assets.
- • Co-founder Chris Ball is reported to retain a majority stake following the transaction.
- • The capital is reportedly earmarked for international expansion, recruitment and strategic acquisitions, targeting British expatriates relocating to Dubai and Abu Dhabi.
- • Aspirity estimates the market for internationally mobile clients at $1.2tn, growing 16% annually, with only a quarter currently receiving financial advice.
Summary
Private equity firm Aspirity Partners has invested $135m in Hoxton Wealth, the expatriate wealth manager's first external funding round, as the firm seeks to capitalise on rising demand for cross-border financial advice, according to a report by Bloomberg.
According to the report, the investment will reportedly support Hoxton's international expansion, recruitment and strategic acquisitions. The firm is targeting increasingly mobile high-net-worth individuals, particularly British expatriates relocating to financial centres such as Dubai and Abu Dhabi.
Hoxton was founded in 2018 and is headquartered in London and Dubai. It operates across 10 jurisdictions, serves approximately 10,000 clients and manages more than $5bn in assets. Co-founder Chris Ball will reportedly retain a majority stake after the transaction.
Aspirity, which closed its inaugural fund at more than €875m last year, focuses on financial technology and services, enterprise technology and connectivity. The firm estimates the market for internationally mobile clients at $1.2tn, growing 16% annually, with only about a quarter of that market currently receiving financial advice. That gap underpins the strategic rationale for the investment.
According to the report, the investment will reportedly support Hoxton's international expansion, recruitment and strategic acquisitions. The firm is targeting increasingly mobile high-net-worth individuals, particularly British expatriates relocating to financial centres such as Dubai and Abu Dhabi.
Hoxton was founded in 2018 and is headquartered in London and Dubai. It operates across 10 jurisdictions, serves approximately 10,000 clients and manages more than $5bn in assets. Co-founder Chris Ball will reportedly retain a majority stake after the transaction.
Aspirity, which closed its inaugural fund at more than €875m last year, focuses on financial technology and services, enterprise technology and connectivity. The firm estimates the market for internationally mobile clients at $1.2tn, growing 16% annually, with only about a quarter of that market currently receiving financial advice. That gap underpins the strategic rationale for the investment.
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