WTW has invested in atomos, the advice-led wealth manager with headquarters in the UK, which is supported by capital managed by Oaktree Capital Management, LP (Oaktree).
The investment follows an effective cooperation with atomos, which began at the end of 2022 and has seen WTW’s investment engine fuel atomos’ multi-asset investment solutions.
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With its scope and investment rigour, WTW offers atomos’ clients access to a bigger, more diverse selection of asset classes and investment options that were previously only available to institutional investors.
This next step in the collaboration sees WTW buy a portion of the company’s stock while also contributing extra funds to assist further expansion.
Having an estimated value of £2.2trn ($2.8trn), the wealth market in the UK is sizable and expanding. With this investment, WTW expands its footprint in the UK wealth market and fortifies its partnership with a significant strategic partner.
Mark Calnan, head of investments for Europe, WTW, said: “This is an incredibly exciting development for WTW which reinforces our commitment to the wealth markets, a strategic focus area for us and one that has driven significant growth for our business in recent years. Our investment in atomos is the natural next step in our successful partnership and extends our investment capabilities to a wider audience.
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By GlobalData“Our stake in atomos enhances our ability to shape how the industry services the needs and aspirations of savers in the UK. This is particularly important as individuals take increased responsibilities for their retirement through defined contribution schemes and personal savings. It also enables us to bring our experience and capabilities built over many decades in occupational pensions to atomos’ individual clients.”
“Having had the opportunity to work closely with the atomos leadership team since the end of 2022, we have seen first-hand the alignment with us. We passionately share the belief that combining high quality financial planning with institutional-quality investment portfolios is a winning combination that delivers sustainable financial outcomes for savers.”
Federico Alvarez-Demalde, a managing director at Oaktree, commented on the transaction shared: “In a highly competitive market, WTW’s strategic minority stake in atomos is both a clear indication of the value of the UK wealth management sector, and an endorsement of the company’s differentiated vertically integrated business model. The deal is designed to deliver better outcomes for a broad range of clients. It also recognises atomos’ outstanding growth potential, both organically and through its disciplined acquisition strategy. The atomos leadership team has ambitious plans for the business and a clear strategy for realising those plans.”
Jonathan Polin, CEO of atomos, added: “We are delighted to be extending our relationship further with WTW after a highly successful period since the end of 2022 in which, together, we have transformed the investment proposition we offer our clients. WTW’s investment in atomos, having seen first-hand the strength of our client relationships and quality of our people, is further recognition of the health and growth potential of this business. As we look for more ways in which we can enhance the atomos client experience, our closer alignment to such an established, well- resourced business will play a key part.”
Houlihan Lokey served as WTW’s financial adviser and Herbert Smith Freehills LLP provided legal advice on the deal. Meanwhile, Fenchurch Advisory Partners provided financial advice to atomos and White & Case served as atomos’ legal counsel associated with the transaction.
