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Bridgepoint to sell UK wealth manager Tilney to Deutsche Bank Bridgepoint to sell UK wealth manager Tilney to Deutsche Bank

20 Oct 2006. Source: AltAssets.
Deutsche Bank has agreed to acquire Tilney Group, a UK wealth manager, from European private equity firm Bridgepoint and Tilney management. Financial details of the transaction were not disclosed but the deal could be valued at up to £350m, according to FT.com.

Tilney has assets under management of about £6.7bn and 330 employees.

Pierre de Weck, global head of private wealth management at Deutsche Bank and a member of the bank's Group Executive Committee, said, 'The acquisition of Tilney marks a significant move into the second largest wealth management market in Europe. Tilney provides a strong platform which will enable us to drive value from further consolidation in the UK market. Tilney is a significant player in UK wealth management with a strong management team and a proven track record. We see an excellent strategic fit with Deutsche Bank as we jointly strive for a market leading position in the UK.'

Bridgepoint provide private equity to companies in various industry sectors to fund buy-outs, buy-ins, growth and public-to-private transactions. The firm invests in companies capitalised at up to €1bn, with the ability to make equity investments up to €250m.

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