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Travers Smith advises Investec Bank plc on the financing of The Carlyle Group's proposed acquisition of Harwood Wealth Management

Overview

Travers Smith LLP has advised Investec Bank plc on a £32 million term loan facility and £3 million revolving credit facility to be made available to a vehicle owned by The Carlyle Group (Carlyle) in connection with Carlyle's £91 million proposed acquisition of AIM-listed Harwood Wealth Management.

Carlyle is one of the world's largest investment firms with $222 billion of assets under management and is working with Hurst Point on the acquisition. Hurst Point is a vehicle established in 2019 by ex-Old Mutual executives to identify wealth management acquisition opportunities for private equity buyers looking to tap into the sector's consolidation.

The Travers Smith team was led by Head of Finance Matthew Ayre with support from Senior Associates Katie McMenamin and Will Sheridan, and Trainee Solicitor Hannah McCullagh.

Linklaters LLP advised Carlyle.