On November 24, 2020, Seward & Kissel client, FWM Holdings, LLC announced that it has entered into a merger agreement with Stanhope Capital Group SA.
Under the terms of the agreement, Stanhope Capital Group SA (“Stanhope”) and FWM Holdings, LLC (“FWM”) will merge. The management of FWM will receive shares of Stanhope as part of the consideration for the transaction. Upon closing, the firms will retain their respective names, but will operate as a single company. Stanhope founder, Daniel Pinto will be the Chairman and CEO of the combined firms and FWM founder, Keith Bloomfield will continue in his role as CEO of FWM. Bloomfield will also become a member of Stanhope’s board of directors as Vice Chairman and a member of the executive committee. The transaction is expected to close in the first quarter of 2021 and is subject to customary closing conditions. Further terms of the deal were not disclosed. A Seward & Kissel team led by partners Craig Sklar, Nick Katsanos and counsel Robert Chender represented FWM on the transaction.
FWM is the owner of Forbes Family Trust, LGL Partners and Optima Fund Management. It provides wealth management services to ultra-high net worth family offices and individuals, foundations and endowments, and provides custom advisory services to hedge funds through Optima Fund Management. It has $11.2 billion in assets under management.
Stanhope, based in London, is a global investment firm that services private client, endowments, charities and other institutions. It has approximately $13 billion in assets under management. Berkshire Global Advisors served as exclusive financial advisor to Stanhope on the transaction.
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