Martin Gilbert's AssetCo to acquire 30% of Parmenion Capital for £27.8m

Subject to regulator approval

AssetCo has cut a deal with Preservation Capital Partners to acquire a 30% equity interest in Parmenion Capital Partners for up to £27.8m.

It has been targeted by the firm because it believes there are "significant opportunities to develop the business of Parmenion further, both organically and inorganically", including deepening its relationship with existing customers and growing its customer base, through ongoing technological innovation and by broadening its discretionary fund management and platform offerings to meet customer demand. Parmenion is an FCA registered B2B fund investment and advisory platform for the wealth and IFA sector, servicing around 1,100 adviser firms and 2,600 financial advisers. It was announced ...