Nucleus sold to a new PE firm

“Secondly, the group is clearly going for scale, and that likely means it will want to take advantage of any potential further acquisitions out there in the years to come. Again, having another, larger shareholder might help with that.”

Reports landed earlier this month that Goldman Sachs was one of the private equity investors interested in buying a stake in Nucleus. The other two private equity firms interested in buying a slice of the advised investment platform were Centerbridge Partners and GTCR.

"So as long as Goldman Sachs or any other private equity firm starts tapping into sentiment, culture and the end user they will keep advisers on side and be welcome in the space," said Ellis.