Parmenion to acquire £1.9bn EBI Portfolios

The acquisition is the first one under its new ownership. In March 2021, Parmenion was acquired by a private equity house, with Standard Life Aberdeen, now known as abrdn, announcing its £102m sale to Preservation Capital Partners. EBI manages ESG portfolios and currently has £1.9bn on 19 platforms for more than 150 advisory firms and nearly 7,000 underlying customers. The firm said it focused on reducing cost and risk to adviser firms by doing the "heavy lifting" in investment. Post-acquisition, the DFM will continue to operate from its office in Aldridge under the same branding with...