Key Takeaways
- • Bridgepoint, Bain Capital, and Aquiline are among private equity firms competing in the sale process for UK wealth manager W1M, according to Bloomberg citing sources.
- • The auction has moved to a second bidding round, per the sources cited by Bloomberg.
- • W1M generates approximately £70m ($93.7m) in EBITDA, and several private credit firms are considering financing the transaction.
- • Ares, W1M's current lender, has offered staple financing, and Rothschild is advising on the sale.
- • The W1M process reflects continued private equity interest in wealth management, following Carlyle and Bain Capital's reported competition for Wealth Enhancement.
Summary
Bridgepoint, Bain Capital, and Aquiline are among private equity firms participating in the sale of W1M, a UK wealth management firm, Bloomberg reported citing sources. The auction has advanced to a second bidding round, the sources said.
W1M was created in 2024 through the combination of Waverton Investment Management Group and London and Capital Group. The company generates approximately £70m ($93.7m) in earnings before interest, taxes, depreciation, and amortisation. Lovell Minnick, a US private equity firm, invested in the company in 2023, according to its portfolio page. Rothschild is advising W1M on the sale.
Several private credit firms are considering financing the transaction. Ares, W1M's current lender, has offered staple financing. Ares, Aquiline, Bain Capital, Bridgepoint, and W1M declined to comment, while Lovell Minnick and Rothschild did not immediately respond to requests for comment.
The W1M process comes as private equity groups continue to assess transactions in wealth management. In July, the Financial Times reported that Carlyle and Bain Capital were competing to buy Wealth Enhancement, a deal that could value the platform at about $7bn including debt. Wealth Enhancement manages nearly $160bn in client assets, according to that report, and its owners, TA Associates and Onex, have put the business up for sale.
Separately, Aquiline agreed last month to invest in Flourish, MassMutual's wealth technology business, which provides registered investment advisors with banking-style tools for client services. The transaction is expected to complete in the fourth quarter of 2026, subject to standard closing conditions and regulatory approval, and Aquiline will become Flourish's controlling shareholder once the deal closes.
W1M was created in 2024 through the combination of Waverton Investment Management Group and London and Capital Group. The company generates approximately £70m ($93.7m) in earnings before interest, taxes, depreciation, and amortisation. Lovell Minnick, a US private equity firm, invested in the company in 2023, according to its portfolio page. Rothschild is advising W1M on the sale.
Several private credit firms are considering financing the transaction. Ares, W1M's current lender, has offered staple financing. Ares, Aquiline, Bain Capital, Bridgepoint, and W1M declined to comment, while Lovell Minnick and Rothschild did not immediately respond to requests for comment.
The W1M process comes as private equity groups continue to assess transactions in wealth management. In July, the Financial Times reported that Carlyle and Bain Capital were competing to buy Wealth Enhancement, a deal that could value the platform at about $7bn including debt. Wealth Enhancement manages nearly $160bn in client assets, according to that report, and its owners, TA Associates and Onex, have put the business up for sale.
Separately, Aquiline agreed last month to invest in Flourish, MassMutual's wealth technology business, which provides registered investment advisors with banking-style tools for client services. The transaction is expected to complete in the fourth quarter of 2026, subject to standard closing conditions and regulatory approval, and Aquiline will become Flourish's controlling shareholder once the deal closes.
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