AlTi Tiedemann Global has announced its acquisition of independent advisory firm East End Advisors, which holds $5.6bn in AuM.
East End Advisors offers customised portfolio management and investment services to a select group of UHNW families and foundations.
The deal follows AlTi’s strategic investment of $450m from Allianz X, an investment arm of Allianz SE, and Constellation Wealth Capital. Funds will be used to accelerate AlTi’s strategy to become the leading global independent wealth management platform for UHNWIs with expertise in alternatives.
East End expands AlTi across key areas in the US and boosts the firm’s offering within the Outsourced Chief Investment Officer market.
Furthermore, East End’s clients will benefit from access to a broader set of investment strategies, as well as AlTi’s global resources and holistic wealth management solutions.
Michael Tiedemann, Chief Executive Officer of AlTi Tiedemann Global, said: “We have long admired the exceptional team at East End, their investment approach, and the long-standing and trusted relationships they have with their clients. We both share industry-leading client retention and a deep understanding of the complexities and changing demands of ultra-high-net-worth families and foundations. We are excited to have them join the AlTi ecosystem.
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By GlobalData“AlTi Tiedemann Global continues to build its reputation as destination of choice for global UHNW families and foundations looking for access to world-class expertise and solutions, combined with the focused attention of a bespoke family office. I look forward to providing further updates on our strategic growth trajectory in the coming months.”
David Salomon, president of East End Advisors, continued: “We are excited to continue on our path of best-in-class client service, while broadening our solution set to meet the complex needs of the families, endowments and foundations we serve. Joining AlTi will further increase our ability to support clients for generations to come.
“We are confident that AlTi’s global platform will benefit East End’s clients through increased access to global perspectives and solutions, and that together we will be able to provide a broader range of compelling ideas and opportunities.”
Andrew Douglass, co-head of business development strategy for AlTi Tiedemann Global, added: “The addition of East End helps expand our market presence in key regions in the US and accelerates our ability to grow strategically while maintaining a boutique approach. We have known the East End team for decades and are highly impressed with the business they have built. We are delighted they have decided to team with us.”
