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Last Article Uploaded: Thursday, October 28th, 7:22AM

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Pathfinder and Newton Ross in NASDAQ listing

Asset manager Alvarium, which owns Pathfinder and financial planning firm Newton Ross is to be part of a new NASDAQ listed company.

Friday, September 24th 2021, 7:16AM 2 Comments

Alvarium is to combine with US-based Tiedemann group and list on the NASDAQ via a special purpose acquisition company (SPAC).

The listing is part of Alvarium's merger with US-based Tiedemann Advisors and Tiedemann Investment Group. The two companies will combine with Cartesian Growth Corporation - a SPAC - to form Alvarium Tiedmann Capital.

The combined firm will have US$54 billion in assets under managed and 350 employees worldwide across 29 offices.

The company is expected to have an equity value of US$1.5b post listing.

Alvarium Investments NZ is 46% by Alvarium and 46% owned by Tailorspace - the family business of New Zealand rich-lister Ben Gough. The remaining 8% is owned by Bhive Gold - a company owned by Brett Gamble.

Alvarium Tiedemann Capital will be a leading independent, global wealth and asset manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with leaders with fiduciary capabilities as well as alternative investment ideas and strategic advisory services.

From an operational perspective, the merger won’t have any material impact on Alvarium’s business in New Zealand set up as a joint venture partnership with Tailorspace.

Alvarium Investments NZ managing director Andrew Williams, a co-founder of Alvarium, said the integration of Tiedemann and Alvarium would bring the merged entity scale and unique opportunities for its investors.

“Alvarium offers specialised services and access to markets that no one else in New Zealand provides and that just expanded into North American markets through this landmark transaction,” said Williams, global head of real estate and a member of the executive committee for the new entity.

Christchurch-based Gough said the deal significantly strengthened the company’s footprint both here and abroad.

“Day to day this won’t change too much for our Kiwi investors however it does create an exciting and unique opportunity to access quality fund managers across real estate, private equity and venture funds that were previously not available.”

New York-based Michael Tiedemann will become the CEO of the newly merged entity. Andrew Williams, based in NZ, will remain global head of real estate and managing director of operations in NZ.

The decision to merge the companies follows two years of discussions between Alvarium and Tiedemann.

Tags: Alvarium Wealth Pathfinder

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Comments from our readers

On 24 September 2021 at 12:10 pm Dosser said:
Not great timing given Elizabeth Warren's recent letter to SPAC promoters
On 27 September 2021 at 10:20 am smitty said:
Question: Are they a blend of a VIO (vertically integrated office) and best of breed? Be interested to hear some viewpoints.

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Lender Flt 1yr 2yr 3yr
AIA 4.55 ▲3.25 ▲3.75 ▲3.99
ANZ 4.59 ▲3.84 ▲4.30 ▲4.54
ANZ Blueprint to Build 1.68 - - -
ANZ Special - ▲3.24 ▲3.70 ▲3.94
ASB Back My Build 2.04 - - -
ASB Bank 4.45 ▲3.25 ▲3.75 ▲3.99
Basecorp Finance 5.49 - - -
Bluestone ▲3.74 ▲3.54 ▲3.89 ▲4.09
BNZ - Classic - ▲3.24 ▲3.79 ▲3.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.70 ▲3.84 ▲4.39 ▲4.59
BNZ - TotalMoney 4.70 - - -
CFML Loans 5.15 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 3.95 ▲4.10 -
Credit Union South 5.65 3.95 ▲4.10 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.25 1.85 2.35 2.65
Heretaunga Building Society 4.99 3.80 3.90 -
Lender Flt 1yr 2yr 3yr
HSBC Premier 4.49 2.19 2.45 2.69
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC ▲4.15 ▲2.89 ▲3.29 ▲3.49
Kainga Ora 4.43 2.88 3.28 3.59
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 4.00 ▲4.14 ▲4.44 ▲4.84
Kiwibank - Offset 4.00 - - -
Kiwibank Special 3.75 ▲3.29 ▲3.59 ▲3.99
Liberty 5.69 - - -
Nelson Building Society 4.95 2.99 3.24 -
Lender Flt 1yr 2yr 3yr
Pepper Essential 4.79 - - -
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 3.05 3.45 3.75
SBS Bank Special - 2.55 2.95 3.25
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - ▲2.79 - -
The Co-operative Bank - Owner Occ 4.55 ▲2.99 ▲3.60 ▲3.89
The Co-operative Bank - Standard 4.55 ▼3.49 ▲4.10 ▲4.39
TSB Bank 5.34 ▲3.75 ▲4.20 ▲4.44
TSB Special 4.54 ▲2.94 ▲3.40 ▲3.64
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.84 ▲3.79 ▲4.39 ▲4.59
Westpac - Offset 4.84 - - -
Westpac Special - ▲3.19 ▲3.79 ▲3.99
Median 4.57 3.24 3.70 3.99

Last updated: 27 October 2021 8:49am

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