Dunedin private equity backs asset management adviser to fund expansion
Private equity company Dunedin has invested £80m in specialist asset management adviser Alpha Financial Markets Consulting, City PM has learned.
The consultancy plans to use the investment to expand its operations internationally and in the UK.
Alpha’s chief executive Euan Fraser said: “Our plans for the future are no less ambitious and we look forward to expanding into new geographies and sectors.”
Alpha FMC has grown its profit to £8m last year, from £2.3m in 2013, through working with clients like Woodford Investment Management, the company set up by star manager Neil Woodford.
Dunedin’s only other active investment in the financial industry is with offshore wealth structuring company Hawksford.
Mark Ligertwood, partner at Dunedin, who now joins the board of Alpha FMC, said: “We are seeing the demand for outsourced consultancy services continue to grow in the face of operational, regulatory and cost pressures.”
Baird Capital, which invested in Alpha FMC in October 2013, will exit on the deal.