Capital International Group has acquired APW Investors Ltd, an independent asset management firm based in Jersey and part of Affinity Private Wealth.
The acquisition, which is subject to regulatory approval, will, says Capital International’s Head of Asset Management Antony Kelsey, help the business to “enhance its service offering, expand its client base and reinforce its commitment to responsible and sustainable investing”.
“This will give us a deeper footprint in Jersey, scaling our presence, team and capabilities in the Island,” he said. “It also increases our range of investment solutions, with APWIL offering services such as discretionary investment management, investment oversight and advisory, model portfolio services and execution only.”
The move would also, Mr Kelsey said, give Capital International’s intermediaries, advisers and clients access to the The Affinity Better World Growth Fund, advised and distributed by APWIL.
“We are thrilled to welcome APWIL into the Capital International family,” he added. “This acquisition represents another significant milestone in our growth journey and greatly consolidates our initial Jersey presence. We are looking forward to working with Ben, Russell, Jon and the wider APWIL team to drive strong growth and performance from Jersey.”
Ben Stott, Managing Director of APWIL, said: “I am extremely proud to lead our team of talented and dedicated professionals into its new home with Capital International. From our initial interactions with their leadership team, it was obvious that we share a belief in exceptional client delivery, alongside innovative investment solutions. It is exciting to expand our offering for our existing and future clients, who will also benefit from access to Capital International’s market leading technology.”
Anthony Long, Chairman of Capital International Group, commented: “Affinity’s investment business has long been on our radar, not just for its investment excellence, but for its leadership in sustainability and community engagement. This acquisition is a great fit for our long-term vision.”
Reflecting on the origins of Affinity, David Stearn, CEO of Affinity Private Wealth, said: “Parting with our investment team is emotional for us. When we formed Affinity in 2011, we did so as two businesses with one common aim and focus. This is, however, an incredibly exciting opportunity for the investment team to continue to build and enhance their existing offering with scale. We are delighted to see the investment business pass to great new owners who have a very similar culture and value set, and we have no doubt the team will flourish at Capital International. As for Affinity, we will continue to focus on growing and expanding our private client structuring services and look forward to the journey ahead.”