Oaktree acquires Sanlam Wealth UK in £140m deal

New brand to be announced

James Baxter-Derrington
clock • 2 min read
Sanlam Wealth UK chief executive Jonathan Polin
Image:

Sanlam Wealth UK chief executive Jonathan Polin

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 and while Sanlam Wealth will retain its brand during a transition period, it will adopt a new brand and identity "in due course". Sanlam Wealth CEO John White departs 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 will lead the new business and will retain support of "key members of its management team", although a leadership team for the refocussed business will be announced "at a...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot