Novia bought by private equity firm AnaCap

The purchase, subject to regulatory approval, means AnaCap has now acquired nearly £11bn of assets under management (AUM) in the sector. In December last year, AnaCap bought Wealthtime and then in July earlier this year, it acquired Amber Financial Investments. Novia will add £8.15bn AUM and a client base of 67,000 through more than 1,000 IFA firms to the private equity house. Novia is the second major adviser platform to be snapped up by a private equity firm in as many years after James Hay was bought by IFG Group in 2019. Novia chief executive officer Bill Vasilieff said: "Novia...