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LJ Partnership acquires stake in global asset manager – NZAM

Press Release – SenateSHJ

Auckland, 11 September 2018 LJ Partnership (soon to rebrand as Alvarium Investments), a United Kingdom headquartered investment firm and merchant banking partnership, has through a New Zealand subsidiary, LJ Partnership NZ Ltd (LJNZ), acquired …LJ Partnership acquires stake in global asset manager – NZAM

Auckland, 11 September 2018 – LJ Partnership (soon to rebrand as Alvarium Investments), a United Kingdom headquartered investment firm and merchant banking partnership, has through a New Zealand subsidiary, LJ Partnership NZ Ltd (“LJNZ”), acquired a 50% stake in boutique global investment manager, NZAM.

LJNZ is a joint venture between LJ Partnership and Tailorspace, the investment arm of the Ben Gough Family Office, which was created to bring LJ Partnership’s extensive international experience and capabilities to the New Zealand market.

Alan McChesney, Executive Director of NZAM, said: “We are already in discussions with a number of parties, including clients, who are interested in the prospective opportunities that this strategic relationship brings.

“This relationship enhances NZAM’s global reach, providing us with access to LJ Partnership’s international investment management and research capabilities via their 2016 purchase of Guggenheim Investment Advisors in Asia, US, Latin America and Switzerland, and Deloitte’s investment advisory business in London.

“In particular, it gives us access to portfolio management teams in the US, Europe and Asia, serving to enhance the qualitative and quantitative aspects of our research process.
“LJ Partnership’s absolute return investment approach also complements NZAM’s investment philosophy and will provide us with the capability to offer our clients a much broader range of offerings and co-investment opportunities, particularly in the private debt and property related areas,” he said.

LJ Partnership’s co-Founder and current co-Chairman, Andrew Williams, will join the NZAM Board as Chairman. Having recently located to Auckland, Andrew isoverseeing growth in Asia and Australasia, with additional new offices planned imminently for Singapore, and Sydney. Earlier this year, LJ Partnership appointed Ken Costa, the former Chairman of Lazard International as co-Chairman, based in London.

This is the latest in a series of mergers and acquisitions made by LJ Partnership as it continues the expansion of its global investment management business. These have included Guggenheim Partners’ investment advisory groups in Hong Kong, Geneva, Lisbon and Miami and the London-based Deloitte Investment business. LJ Partnership currently supervises assets of over US$15bn/£11bn and has to date invested over US$3bn/£2.2bn of equity, primarily in real estate.

Andrew Williams, co-Founder and co-Chairman of LJ Partnership, said: “We are delighted to announce this strategically important expansion of our business and the launch of additional services and investment opportunities for our clients in Australasia. With a presence now well established in Auckland, we have ambitious aspirations for further growth in Australasia and Asia and will be actively pursuing acquisition opportunities in the local funds and wealth management market.”

Brett Gamble, CEO of Tailorspace, will join the NZAM Board as a non-executive director along with Elliot Shave, CFO LJ Partnership, based in London. Jonathan Mason remains an independent Director of NZAM, alongside Simon Tompkins and Alan McChesney as directors.

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About LJ Partnership (soon to rebrand as Alvarium Investments)

Established in 2009, LJ Partnership (soon to rebrand as Alvarium Investments) is an investment firm advising institutional and private clients. This includes a select group of global families, their family offices, operating companies and charitable foundations, as well as corporates, sovereign wealth funds and institutional investors.

Built on a traditional banking model, it delivers investment and administration services through three key divisions: (1) direct investment; (2) investment management; and (3) trust & administration including private office.

As an investor, LJ Partnership allocates funds to public and private market asset managers and makes direct investment in real estate and private equity, co-investing alongside its clients. The firm currently supervises £11bn ($15bn) in assets in Europe, Asia and the Americas. To date, it has invested over £2.2 bn ($3bn) of equity, primarily in real estate, and its realised track record shows a net IRR of 25%.

The Group employs 200 staff across 8 offices, located in London, New York, Miami, Hong Kong, Auckland, Geneva, Lisbon and the Isle of Man. It is a privately owned company with major shareholders spanning the Middle East, Europe, the Americas and Hong Kong.

LJ Partnership is regulated in six countries, including the FCA in the UK and the SEC in the US.
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Content Sourced from scoop.co.nz
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