January 25, 2021

AnaCap announces acquisition of Novia Financial

Private equity firm, AnaCap, has announced the acquisition of investment technology platform, Novia Financial, for an undisclosed sum.

The Novia deal is AnaCap’s third in the UK investment sector since 2019

Novia claims to be the UK’s third largest independent investment platform. It has a client base of 67,000 independent financial advisors (IFAs) with a combined £8.15 billion assets under management.

AnaCap’s latest purchase marks its third in the UK wealth management space, after Amber Financial Investments in July 2020 and Wealthtime in December 2019.

The firm says that across its three investments it has acquired almost £11 billion in assets under management.

“We view this […] as a truly fundamental deal in our strategy across the UK wealth management platform space,” says AnaCap partner for M&A, Nassim Cherchali.

“The investment means we have vastly increased our fund management and technological capabilities.”

The next steps for Novia are “planned investments into distribution and the building of in-house asset management capabilities”.

Bill Vasilieff, CEO at Novia, says AnaCap has a “strong track record in growing fintech businesses with innovative operational strategies.”

He adds: “We believe that AnaCap represents the perfect choice to help us develop and, pending completion, we look forward to an exciting new chapter for the company in 2021 and beyond.”

The deal is subject to regulatory approval.

Related: AnaCap to acquire Wealthtime