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Foster Denovo|News & blogs|News|Financial advice group raises £100m for acquisition war chest

Financial advice group raises £100m for acquisition war chest

The parent group of advice company Foster Denovo has secured up to £100m ($131m, €119m) of funding from US investment firm Crestline Investors.

The investment will fund Foster Denovo’s acquisition and growth strategy in a bid to build a national advice group. The transaction will see private equity company Crestline Investors take a minority stake in Foster Denovo.

The deal, which completed in February, has seen Foster Denovo undertake a series of initial acquisitions in the form of adviser practice buy-outs (PBOs).

Roger Brosch, chief executive of Foster Denovo, commented, “Over the next few years, we intend to utilise this funding, making a series of culturally compatible acquisitions acting as a facilitator for those practices and businesses who put the interests of clients and staff as their key priorities.”

Read the full article on International Adviser here.

You can also read Roger’s comments in Financial Planning Today.

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