Sanctuary Wealth has secured $175m of fresh investment from US-based private credit manager Kennedy Lewis Investment Management.

Kennedy Lewis was established in 2017 and currently has more than $10bn in assets under management (AUM) in various private debt funds and CLOs.

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The latest investment will be used by Sanctuary Wealth to fund its future growth and business strategy.

Sanctuary plans to use part of the new fund for additional merger and acquisitions (M&A) as well as strategic investments in both technology and talent.

With the deal, Sanctuary is set to work together with Kennedy Lewis and Azimut Group, which had made an investment in the company last year.

The company aims to strengthen its distribution chain and network of independent advisors.

In addition, Sanctuary will have a new board of directors, limiting a single company to own a majority stake in the company.

 Sanctuary Wealth CEO and founder Jim Dickson said: “Bringing in Kennedy Lewis to help fuel our continued growth will allow us to build out our ecosystem and enhance our corporate growth.

“The priority, however, will be to help our partner firms reach the next level as we further establish Sanctuary as a leader in the M&A space.”

Launched in 2018, Sanctuary Wealth currently has around $25bn in AUM with 75 partner firms in 26 states across US.

Last year, the company said to have brought 20 new advisor teams with nearly $12bn in client AUM.   Last month, Sanctuary Wealth announced that SkyPath Private Wealth had selected the company to further grow its business.