US cash boosts London-based wealth manager amid global revamp and rebrand

London-headquartered private wealth and real estate partnership, LJ Partnership, which will rebrand to Alvarium Investments in 2019, has announced what it calls “two significant appointments” and the opening of three new international outposts, as part of its global expansion plans. 

The company said in a statement that it has added Ken Costa, formerly chairman of Lazard International, global head of M&A at UBS and chairman of Europe, Middle East and Africa at UBS Investment Bank, and Ali Bouzarif, the former head of investment execution at the Qatar Investment Authority will become partners and shareholders in the group.

Costa will also assume the position of co-chairman based in London, while Bouzarif will work out of the Partnership’s new office on 5th Avenue in New York. Both will act as executive board members, the company said.

The high-profile appointments are also accompanied by an equity investment from Dilmun, a New York-based family office originally from The Gulf, which has acquired a 40% stake in the business.

The Peterson Group in Hong Kong will remain a shareholder in LJ Partnership, together with founding shareholders and management holding the balance of shares. Peterson represented by Tony Yeung, will work together with the new and existing partners to “continue to grow the global platform seeking opportunities to achieve risk-adjusted returns through active management” LJ Partnership added.

Three new global offices

Co-chairman Andrew Williams (formerly CEO) is currently focused on driving the firm’s growth in Asia and Australasia, with new offices planned imminently for Singapore, Sydney and Auckland. Alexander de Meyer (formerly COO) has been appointed CEO and is based in London.

Alexander de Meyer, CEO of LJ Partnership, said: “Attracting individuals of the calibre of Ken Costa and Ali Bouzarif is testament to our growth to date as well as our ambitions for the future.

Ken Costa, Partner and Co-Chairman of LJ Partnership, said: “I am delighted to be joining a partnership that is successfully building on its heritage as a business “built by families for families”.  Our new platform is about merchant banking for the millennial generation, the coming together of expertise and capital.

Andrew Williams, Partner and Co-Chairman of LJ Partnership, said: “Macro events continue to drive private capital into real assets.  It is against this backdrop that our real estate co-investment programme is now entering a new phase of global partnership, matching capital from Asia, the Gulf and the Americas.

LJ Partnership currently employs 200 people at 8 office locations across the world and currently supervises in excess of £11bn ($15bn) of assets on behalf of individuals, family offices, foundations and charities.

ABOUT THE AUTHOR
Gary Robinson
Head of Video and Ezines at Open Door Media Publishing. Deputy Editor, International Investment. An experienced journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as a fully qualified IFA, Gary works across both International Investment and InvestmentEurope titles. Previous video production credits include projects on BBC, C4 and SKY.

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