Tiedemann and Alvarium to Combine with Cartesian Growth

INVESTMENT MANAGEMENT DEALS BLOG

On September 20, 2021, Seward & Kissel client Tiedemann Group announced it and Alvarium Investments will combine with Cartesian Growth Corporation to form Alvarium Tiedemann Holdings.

Seward & Kissel client Tiedemann Group (“Tiedeman”), Alvarium Investments Limited (“Alvarium”) and Cartesian Growth Corporation (“Cartesian”) have entered into a definitive business combination agreement.  The transaction will form Alvarium Tidemeann Holdings (“AlTi”), which will be an independent investment firm listed on Nasdaq under ticker symbol “GLBL” after the close of the transaction. AlTi is expected to have a pro forma equity value of $1.4 billion, and will be funded through a combination of Cartesian’s cash in trust and approximately $165 million from a fully committed purchase of shares of Cartesian common stock through a private investment in public equity. The transaction is expected to close in the first quarter of 2022. A Seward & Kissel team led by Business Transactions Group Partners Craig Sklar and Gary Anderson, Tax Partner Jon Brose, Employment Partner Anne Patin, Investment Management Partner Chris Riccardi and Capital Markets Partners Ted Horton and Keith Billotti, as well as associates Eddie Matzner and Eric Buchanan represented Tiedemann in connection with the transaction.

Tiedemann is comprised of Tiedemann Advisors LLC, an independent wealth and investment advisor for high-net-worth clients in the United States; Tiedemann Trust Company; Tiedemann Constantia, the international arm of Tiedemann; and TIG Advisors LLC, an alternative asset manager. Piper Sandler & Co. is serving as financial advisor to Tiedemann on the transaction.

Alvarium, based in London, is an independent investment firm, global multi-family office and merchant banking boutique providing tailored solutions for families, foundations and institutions across four continents. Alvarium has approximately $22 billion in assets under advisement. Raymond James & Associates Inc. is serving as financial advisor to Alvarium on the transaction.

Cartesian, based in New York, is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, or reorganization or engaging in any other similar business combination with one or more businesses or entities.

To read the press release: please click here.