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Fund giants back Sipp provider with £39m capital injection  

Institutional investors BlackRock, Merian Chrysalis Investment Company and Legg Mason have backed Sipp provider Embark Group with a £39.4m capital injection.

The core of the capital is funded by the three fund giants and is aimed at helping Embark Group meet demand for its digital retirement and platform services.

Existing shareholders will also support the capital raising. In addition to early stage investor New Star Investment Trust, the group now has a portfolio of high quality ‘cornerstone’ long-term investors.

Each investor holds a material minority position, and accordingly will not hold seats on its independent board of directors.

Embark Group chief executive Phil Smith says: “The capital raising represents a significant step in our ambition, capacity and capability to be a major force in digitally led retirement and savings sector. Capital is central for continued steady growth but partnering with major global players who have a fully aligned vision of the future requirements across the financial advisory, direct and workplace channels, is of huge benefit.”

BlackRock head of UK Sarah Melvin adds: “The UK retail distribution landscape is evolving rapidly, with more individuals taking greater responsibility for their financial future and retirement needs. This trend requires our clients to have access to high quality, technology-enabled investment solutions. Our partnership with Embark Group allows us to meet these evolving needs of our clients and their customers in this critically important UK market.”


Jail banker

SFO arrests fifth man over London Capital & Finance collapse

The boss of the online marketing company that made millions from advertising unregulated investment products of collapsed London Capital and Finance has been arrested by the Serious Fraud Office. The SFO arrested and questioned the founder of Brighton-based digital marketing company Surge Financial Paul Careless on Wednesday. Careless was then released on bail and has […]


FSCS tallies up £11m increase in Sipp claims

The Financial Services Compensation Scheme saw an £11m increase in Sipp related claims in the 2018/19 financial year, the lifeboat fund has revealed today. The FSCS paid out £123m in Sipp-related compensation, out of a total of £157m in claims against life and pensions intermediaries. The jump in Sipp claims was large enough to offset […]


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. I hope that cash is going towards Liberty Sipps scammed Customers.

  2. @Kevin: No, Embark are just cleaning up that book of SIPPs. The Liberty claims will fall on the FSCS.

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