Embark raises £39m after investment trio take 40% stake in group

Money for organic growth

Hannah Godfrey
clock • 2 min read

Investment giants BlackRock, Legg Mason and Merian Chrysalis Investment Company have taken a combined stake of nearly 40% in platform and pension provider Embark Group.

The investments have raised some £39.4m for the firm, which will be used to help to grow the business and provide resources if Embark decides to make an acquisition. Blackrock and Legg Mason each took a 9.9% stake in the group, while Merian Chrysalis took 19.99%. Embark group chief executive Phil Smith (pictured) told Professional Adviser the capital raised from the investors will be used for predominantly organic growth. "We will deploy [funds] into accelerating attachment to distribution partners, and that takes time and money and people to complete. So we'll do more than we have...

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

Treasury Committee asks for veto of any government-appointed FOS chair

Treasury Committee asks for veto of any government-appointed FOS chair

To ‘guard against political influence’

Laura Miller
clock 18 March 2026 • 2 min read
Most of our industry has forgotten what advisers actually do

Most of our industry has forgotten what advisers actually do

‘Providers have a responsibility to better support advice firms’

Mark Sanderson
clock 16 March 2026 • 3 min read
Government unveils changes to FOS operations after landmark review

Government unveils changes to FOS operations after landmark review

New ten-year limit for bringing complaints

Isabel Baxter
clock 16 March 2026 • 5 min read