AlTi Global acquires East End Advisors for $76M

AlTi Global announced the acquisition of East End Advisors, an independent advisory firm with assets under management, or AUM, of approximately $5.6B, offering customized portfolio management and investment services to a select group of UHNW families and foundations. This follows the recently announced strategic investment in AlTi of up to $450M from Allianz X, an investment arm of Allianz SE, and Constellation Wealth Capital, an investment advisory firm specializing in making investments in wealth managers. The capital will be used to accelerate AlTi’s strategy to become the leading global independent wealth management platform for the UHNW segment, with targeted expertise in alternatives. Headquartered in New York, East End’s investment record and experienced team expand AlTi Tiedemann Global’s operations in key regions within the U.S. AlTi is acquiring East End Advisors for an initial purchase price of approximately $76M. An additional contingent consideration will be payable over a five-year period, calculated in accordance with an EBITDA-based formula. A certain portion of the contingent consideration is required to be paid in cash based on certain minimum annual thresholds, and the balance may be settled in cash or Class A Common Stock, at AlTi’s discretion. The initial purchase price is expected to be funded by the previously announced investment from Constellation Wealth Capital. The transaction is subject to customary closing conditions and is expected to close early in the second quarter.