Towry backtracks on listing plans

clock

Wealth manager Towry has revised plans to list in the coming months, telling the FT it has raised enough private funds to expand through acquisitions.

Towry had planned to float within 18 months due to its private equity controllers Palamon, looking to sell its holding, the report said. However, chief executive Andrew Fisher, told the FT the firm had already raised enough cash to acquire other firms this year. He said: "What we've done essentially is bypass the need to do an initial public offering by raising the capital privately. We have sufficient equity. I'd be really surprised if [a float] happened this year." In December, Towry raised £35m from co-investors AlpInvest Partners and Honeywell Capital Management. Fisher told the FT ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

MKC Invest backs robotics as physical AI takes off

MKC Invest backs robotics as physical AI takes off

Conducts four-week internal research project

Sophia Panayi
clock 03 July 2026 • 2 min read
Feel Good Friday: Free paraplanning mentoring initiative expands

Feel Good Friday: Free paraplanning mentoring initiative expands

The Paraplanner Club partners with Fundment

Professional Adviser
clock 03 July 2026 • 1 min read
Wesleyan launches two with profits funds for advisers

Wesleyan launches two with profits funds for advisers

Available on Aberdeen, Nucleus, Wealthtime and Hubwise platforms

Sophia Panayi
clock 03 July 2026 • 2 min read