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Boutique wealth manager floats after takeover

Boutique wealth manager floats after takeover

A boutique wealth manager has floated on the AQUIS stock exchange as it pursues growth plans which features a pipeline of acquisitions. 

Baskerville Capital listed on the access segment of the AQSE growth market today (February 9) following the reverse take over of wealth manager Oberon Investments Limited.

The company will be renamed Oberon Investments Group as it eyes a pipeline of acquisitions, which it said already includes a "number of discussions with fund and wealth management teams". 

The access segment of the AQSE growth market attracts companies in earlier stages of development, as opposed to the apex section designed for bigger and more established businesses. 

Robert Hanson, chairman of Baskerville, said: "We are very pleased to have completed the acquisition of Oberon Investments which has created a strong boutique offering in the wealth management and small to mid-cap corporate broking markets.

"Both operationally and on the board, the Oberon team is very experienced and determined to attract the strongest teams, focus on the needs of clients and continue to grow the business."

Hanson said the Baskerville board saw the move as a "rare opportunity to generate real value for shareholders". 

Oberon launched in 2017 and saw its assets under administration jump 300 per cent from £100m in 2018 to £375m at the end of December last year, with assets now exceeding £400m.  

Simon McGivern, chief executive of Oberon Investments Group, said listing on stock exchange marked a "step change" in its growth plans.  

He added: "We feel the wealth management and small to mid-cap corporate broking markets have stagnated and there is a natural space for a forward thinking, client focused boutique. We are very excited at the prospect of turning Oberon into a well-known and respected brand in the financial sector in the next few years." 

rachel.mortimer@ft.com