Parmenion to acquire £1.9bn EBI Portfolios

Platform Parmenion has bought UK-based discretionary fund manager (DFM) EBI Portfolios for an undisclosed sum. 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 investme...