"This transaction will enable continued investment in True Potential’s financial adviser recruitment and its technology platform.”
Berendsen added: “The Cinven team looks forward to working with the excellent management team, in particular the founder-owners of the business, to support the existing strategy, building on the company’s significant growth potential and success.”
This transaction follows Cinven’s recent investments in the financial services sector, including insurance and reinsurance broker Miller, global consolidator of closed books of non-life insurance policies Compre, UK consumer finance company NewDay, and premium finance for commercial and retail insurance product provider Premium Credit.
The investment builds on Cinven’s TMT investments in software businesses with financial services offerings including tax preparation software Drake Software and accounting, tax and payroll applications software Visma.
The transaction is subject to customary anti-trust and regulatory approvals.