Oaktree Capital Management has acquired Sanlam Wealth UK for a total consideration of £140m, subject to regulatory approval.
The deal is expected to close in the first quarter of 2022. Sanlam Wealth will retain its brand during a transition period but will adopt a new brand and identity "in due course". It will remain an independent business and will operate separately to Ascot Lloyd, the national IFA consolidator that Oaktree recently invested in. Chief executive of Sanlam UK Jonathan Polin (pictured) will lead the new business and will retain support of "key members of its management team", although a leadership team for the refocused business will be announced "at an appropriate point". Polin said: "T...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
