UK-based private wealth company LJ Partnership has announced completion of its acquisition of Guggenheim Investment Advisors (Hong Kong), a global investment and advisory firm with more than US$240bn assets under management, from Guggenheim Partners.
This announcement is the latest of a series of mergers and acquisitions made by London-headquartered firm as it continues the expansion of its global investment management business. These have included the Guggenheim Partners investment advisory groups in Geneva and Miami.
Together with the other LJ Partnership entities, this latest deal creates a group with 250 employees operating out of 11 office locations across Europe, the United States and Asia, with assets under supervision in excess of US$13bn, the firm said in a statement announcing the deal.
Guggenheim Investment Advisors (Hong Kong) provides investment management and family office services to families, high net worth individuals and foundations in Hong Kong. As a result of the acquisition, clients will have now have access beyond existing investment management services, to direct real estate and private-equity, private-office administration, and trust and fiduciary services.
Through the strategic collaboration between LJ Partnership and Guggenheim Partners, these entities will continue to use the Guggenheim name under license from Guggenheim Capital.
Andrew Williams, chief executive of LJ Partnership, called the deal a “strategically important” expansion of the business, with the firm’s global reach now including Asia. “Our aim is to achieve a breadth of expertise that differentiates us from competitors and enables us to provide the full range of services that are required by today’s sophisticated investors,” said Williams. “This expansion is also illustrative of our aspirations as we strive for further growth, assess acquisition opportunities and extend our global footprint.”
Established in 2009, LJ Partnership is a private wealth partnership, a collaboration of families and entrepreneurs from across a range of industries, continents and cultures, who have sought to take more control of their wealth. LJ Partnership serves the interests of its clients and partners, delivering investment and administration services as well as acting as both a trusted advisor and principal co-investor.
LJ Partnership was founded by a number of families and entrepreneurs, including the European cousins of the Guggenheim family as well as the co-founders of the businesses acquired from Guggenheim Partners.