CBPE Capital to exit Perspective Financial Group to Charlesbank

Perspective is a financial planning and wealth advisory business.

  • CBPE invested in Perspective in December 2019
  • Perspective will be the sixth exit from CBPE’s Fund IX
  • CBPE is a private equity investor based in London

CBPE Capital will sell Perspective Financial Group, a financial planning and wealth advisory business, to Charlesbank Capital Partners.

Perspective has 40 offices across the UK with over 500 staff.

CBPE invested in Perspective alongside the current management team in December 2019. CBPE’s investment in Perspective was led by Richard Thompson and Harry Hewlett with support from Rachel Milton.

Perspective grew from £2.6 billion ($3.28 billion;€3.04 billion) to £8.0 billion assets under management through a focused buy-and-build investment strategy, supported by strong organic growth, under CBPE’s ownership, according to a release. It also completed over 45 acquisitions.

“We have seen the business develop and grow significantly, whilst maintaining its focus on regulatory best practice and always doing the right thing by its clients,” said Richard Thompson, partner, CBPE.

The proposed sale will follow the previous exits in the sector including Xceptor, Compre, Xafinity and JTC.

Perspective will be the sixth exit from CBPE’s Fund IX.

The sale is subject only to regulatory approval from the FCA.

CBPE is a private equity investor based in London. Its current investments in the financial services sector include BKL, Centralis Group and DCL.

Charlesbank is a middle-market private equity firm with offices in Boston and New York.

CBPE were advised by Houlihan Lokey (corporate finance), Mayer Brown (legal), Deloitte (financial, operational and tax diligence), LEK (commercial diligence), Thistle Initiatives (regulatory diligence) and Crosslake (IT).

No financial terms of the transaction were disclosed.