Foster Denovo lands £100mn PE funding to grow advice firm
Southeast financial advice firm Foster Denovo has landed a £100mn investment from US private equity firm Crestline Investors to fuel its consolidation strategy.
The investment will see the Texan investor take a minority stake in the advice firm, but Foster Denovo’s boss told FTAdviser this stake was “small” and control of the firm remained firmly with its individual shareholders.
“We wanted to protect our culture, that was a must have,” said Roger Brosch, chief executive of Foster Denovo. “Whether it’s new advisers joining or firms we’re looking to buy, ownership is a real concern for the market.”
Read the full FTAdviser article here.