On May 31, 2022, Sanctuary Wealth announced that it has signed a binding agreement with Kennedy Lewis Investment Management to finance its next stage of growth.
Under the terms of the agreement, Sanctuary Wealth (“Sanctuary”) has secured financing of $175 million in the form of a convertible note from Kennedy Lewis Investment Management, LLC (“Kennedy”). The cash infusion will allow Sanctuary to pursue its medium-term business goals, which include M&A deals and strategic investments in technology. The transaction is expected to be completed by June 30, subject to customary closing conditions.
Sanctuary, based in Indianapolis, is a wealth management firm. Sanctuary is owned by the Azimut Group, an asset management firm based in Italy. As of May 31, 2022, Sanctuary had over $15 billion in assets under management.
Kennedy, based in New York is a credit manager of private funds and CLOs. Kennedy serves pension plans, insurance companies, family offices, endowments, and foundations. As of May 31, 2022, Kennedy had approximately $10 billion in assets under management.
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