Evelyn Partners

Investor: NatWest Group

NatWest Group has acquired Evelyn Partners, a wealth manager, from funds advised by private equity firms Permira and Warburg Pincus, in a £2.7 billion deal. Summary of transaction details: Value: £2.7 billion Sector: Financial Services Advisor: Not disclosed Key Entities: NatWest Group, Evelyn Partners, Permira, Warburg Pincus Location: UK Note: The acquisition is a key part of NatWest's strategy to expand its private banking and wealth management business, creating the UK's leading private banking and wealth management business.

Acquirer: NatWest

NatWest has successfully acquired Evelyn Partners in a landmark £2.7 billion transaction, marking its largest corporate takeover since its return to full private ownership. This strategic move aims to combine NatWest’s existing Coutts franchise with Evelyn Partners, establishing the UK's pre-eminent private banking and wealth management business.Summary of transaction details:Value: £2.7 billionSector: Financial Services (Wealth Management)Advisor: None mentionedKey Entities: NatWest (Acquirer), Evelyn Partners (Target), Permira & Warburg Pincus (Selling PE firms)Location: UKNote: This acquisition is a critical step for NatWest to expand its presence in the affluent wealth management sector, offsetting potential declines in interest income and capitalising on a broader trend of consolidation among major lenders in the wealth management market.

Evelyn Partners, a leading UK wealth management firm currently owned by private equity firms Permira and Warburg Pincus, is reportedly being prepared for a sale that could value the business at more than £2 billion. Investment bank Evercore has been appointed to explore a potential auction, with formal sale plans expected to launch in the coming months.Summary of transaction details:Value: More than £2 billionSector: Financial Services & Wealth ManagementAdvisor: EvercoreKey Entities: Target: Evelyn Partners; Current Owners: Permira, Warburg Pincus; Potential Acquirers: NatWest, Royal Bank of Canada, Raymond James, Ontario Teachers’ Pension PlanLocation: United KingdomNote: The potential sale marks a strategic shift for Evelyn Partners' owners, who are now pursuing a trade sale over a public listing, aiming to capitalise on strong market sentiment and the company's significant assets under management.