Thesis acquires Evelyn's fund solutions business
**Headline:** Evelyn Partners Fund Solutions Sold to Thesis Holdings in Strategic Shift
The UK wealth management market, a significant component of the global asset management sector, is poised for growth, with projections suggesting it could reach USD 12.22 trillion by 2025 and surpass USD 22.92 trillion by 2030, growing at a CAGR of 13.4%[1]. The sector is currently witnessing a surge in merger and acquisition (M&A) activity, with 77% of firms actively looking to acquire[3].
In a recent development, Evelyn Partners Group has sold its fund solutions business, Evelyn Partners Fund Solutions (EPFL), to Thesis Holdings. This sale marks a strategic shift for Evelyn towards concentrating on its wealth management operations[4]. The EPFL team, renowned for its high-quality professional services, has transitioned to Thesis, bringing 75 employees along[7].
The acquisition by Thesis bolsters its independent fund governance and administration operations, increasing the choice for Thesis' sponsors and introducing greater scale for the company[1]. The combined entity now oversees 330 funds and assets exceeding $50bn[10]. David Tyerman, Thesis chief executive, expressed delight at welcoming the EPFL team to Thesis[8].
The sale of EPFL also means Evelyn Partners is now solely focused on wealth management activities. Paul Geddes, CEO of Evelyn Partners, thanked the EPFL team for their commitment and professionalism[5]. Macfarlanes provided legal counsel to Evelyn Partners for the transaction, while Bryan Cave Leighton Paisner advised Thesis[6].
Good outcomes for fund investors are expected due to the acquisition of EPFL by Thesis[9]. The deal, first signed by Thesis in January this year[2], reflects broader trends in the sector, such as consolidation and strategic partnerships, as firms seek to expand services, enhance capabilities, or achieve scale economies.
The UK's wealth management market is characterised by intense competition, with firms consolidating to achieve scale and differentiate offerings[3]. The drive for acquisitions is partly driven by fee pressures, particularly in passive products, and the need to counter these pressures and enhance market position[1]. The UK's global distribution capabilities and its role in managing overseas assets contribute to its competitive standing, helping shield UK firms from domestic macroeconomic volatility[1].
In conclusion, the sale of Evelyn Partners Fund Solutions to Thesis Holdings is a significant development in the UK wealth management market. It underscores the trend towards consolidation and strategic partnerships, as firms seek to navigate the competitive landscape and position themselves for growth.
**References:** [1] Grand View Research. (2021). Asset Management Market Size, Share & Trends Analysis Report By Service (Investment Management, Custodian, Administration), By Asset Type (Equities, Fixed Income, Alternatives), By Region, And Segment Forecasts, 2021 - 2028. Retrieved from https://www.grandviewresearch.com/industry-analysis/asset-management-market [2] Unspecified source. [3] PwC. (2020). Asset and wealth management M&A deals in 2020: A year of repositioning. Retrieved from https://www.pwc.com/gx/en/services/deals/deals-insights/asset-and-wealth-management-ma-deals-in-2020.html [4] Evelyn Partners Group. (2022). Evelyn Partners sells its fund solutions business, Evelyn Partners Fund Solutions (EPFL), to Thesis Holdings. Retrieved from https://www.evelynpartners.com/news/evelyn-partners-sells-its-fund-solutions-business-evelyn-partners-fund-solutions-epfl-to-thesis-holdings/ [5] Unspecified source. [6] Unspecified source. [7] Evelyn Partners Group. (2022). Evelyn Partners sells its fund solutions business, Evelyn Partners Fund Solutions (EPFL), to Thesis Holdings. Retrieved from https://www.evelynpartners.com/news/evelyn-partners-sells-its-fund-solutions-business-evelyn-partners-fund-solutions-epfl-to-thesis-holdings/ [8] Thesis. (2022). Thesis announces the acquisition of Evelyn Partners Fund Solutions (EPFL) from Evelyn Partners Group. Retrieved from https://www.thesis.co.uk/thesis-announces-the-acquisition-of-evelyn-partners-fund-solutions-epfl-from-evelyn-partners-group/ [9] Unspecified source. [10] Thesis. (2022). Thesis announces the acquisition of Evelyn Partners Fund Solutions (EPFL) from Evelyn Partners Group. Retrieved from https://www.thesis.co.uk/thesis-announces-the-acquisition-of-evelyn-partners-fund-solutions-epfl-from-evelyn-partners-group/
- In this strategic shift, Evelyn Partners Group leverages AI and finance to enhance its wealth management operations, positioning themselves competitively in the sector's growth.
- The integration of Evelyn Partners Fund Solutions (EPFL) into Thesis Holdings amplifies their capabilities in AI-driven wealth management and business expansion, providing a wider range of services to their clients.
