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Tilney looks for more acquisitions after MBO backed by Bridgepoint

Tilney chief executive David Campbell is leading a management buyout of the specialist fund manager.

Campbell and Tilney’s management team have struck a deal with private-equity firm Bridgepoint to acquire the business which has 5bn in assets under management, for an undisclosed sum. The split of equity is also undisclosed.

Tilney marketing director Ian Beestin says Bridegpoint is committed to the firm for the medium term but, as a private equity house, will eventually seek an exit. In the meantime, it will back Tilney’s acquisition plans which has seen it buy five business firms, including property manager Cardales and fund of hedge funds boutique, in the past three years.

Beestin says the recent acquisitions were to build scale and diversify the business and this dual strategy is likely to be continued.

Tilney is now the UK’s fourth-biggsest independent provider of wealth management services.

Beestin says: “Tilney has 5bn in assets under management, so it is obviously a sizeable deal and we will continue to pursue both an organic and acquisitive growth strategy.”

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