On March 20, 2023, First Sentier Investors announced that it will invest in AlbaCore Capital Group.
Under the terms of the transaction, First Sentier Investors (“First Sentier”) will make a majority investment in AlbaCore Capital Group (“AlbaCore”) and the parties will form a strategic partnership. The senior management team at AlbaCore will retain a minority ownership stake in the business, and the AlbaCore staff will remain in place and continue to operate under the AlbaCore brand. The transaction is expected to close in the third quarter of 2023, subject to customary regulatory approvals. Financial terms were not disclosed.
First Sentier, based in London, is a wealth management firm serving pension funds, investment platforms, financial advisors and wholesale distributors. First Sentier has approximately $146 billion in assets under management. Berkshire Global Advisors advised First Sentier Investors on the transaction.
AlbaCore, based in London, is an alternative investment manager specializing in credit strategies. AlbaCore has over $9.5 billion in assets under management.
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