International law firm Simmons & Simmons has advised the management shareholders of Clifton Asset Management on an investment by private equity firm CBPE.
Clifton is a vertically integrated, client-focused wealth manager, offering services including retirement planning, asset management, and a wealth platform. It currently manages over £1.8 billion in group assets, with more than 9,000 clients and 110 employees. Clifton’s management team will continue to run the business.
The transaction is a significant move for Clifton, as it seeks to accelerate its growth under the new partnership with CBPE. The deal, which is subject to regulatory approval, will support both organic growth and Clifton’s acquisition strategy.
The Simmons team advising Clifton’s management shareholders was led by corporate partner David Hicks with support from Counsel Alex Critchley and other members of the UK corporate team, alongside private equity partner Richard Kyle and Counsel Linda Zeman.
The Corporate team worked as part of a cross-practice, multi-disciplinary team across financial services regulatory, employment, tax, incentives, pensions, competition, IP, litigation and real estate, including financial services regulatory partners Alex Ainley and Rosali Pretorius, corporate tax partner Helen Coward and incentives partner Tair Hussain.
Commenting on the deal, David Hicks said: “We were delighted to be able to support the Clifton team on this transformational transaction, leveraging our leading expertise across the asset and wealth management sectors.”
