Tenzing backs financial services company Altum with growth investment

The investment in Altum is the sixth of Tenzing's £400 million Fund II.

  • Tenzing will support investment in technology, product development and sales
  • Altum has a track record of delivering double-digit organic growth
  • The company provides administrative services to funds, corporates and family offices

Tenzing announced on Tuesday that it has made a strategic investment in Jersey-based Altum, a provider of administrative services to funds, corporates and family offices. The company was formerly known as the LGL Group and is headquartered in Saint Helier.

Altum has a track record of delivering double-digit growth and Tenzing will provide investment in technology, new product development and sales. The investment is the sixth of Tenzing’s £400 million ($456 million; €456 million) Fund II which started investing in 2021.

“Altum is well-positioned to capitalise on the impressive market growth we are seeing in this sector,” said Christian Hamilton, co-founder and joint managing partner of Tenzing. “We’re excited to partner with them to drive more organic and inorganic growth whilst continuing to deliver the world-class service that their clients love.”

The trust, corporate and fund administration services market is estimated to be worth approximately £7.5 billion globally and is growing at around 5 percent per annum.

London-based private equity firm Tenzing invests in high-growth UK and Northern European SMEs valued between £10 million and £200 million.