Hines Associates (“Hines”) is delighted to announce that it advised the Board of Hurst Point Group on the merger of Gore Browne Investment Management (“GBIM”) with its subsidiary Hawksmoor Investment Management Limited
Hines acted as financial adviser to Hurst Point Group on the acquisition of 100% of GBIM Limited which has completed following receipt of FCA approval.
GBIM is an independent investment management boutique with offices in Salisbury and Harrogate. Its 15 investment professionals provide discretionary management services to a variety of clients throughout the UK and overseas offering bespoke, diversified, multi-asset portfolio management for private clients, family trusts, charities, pension funds, companies and professional advisers.
Hawksmoor, which managed close to £1.6bn of clients’ assets at the end of 2021, is headquartered in Exeter, with offices across the UK, and provides similar high quality discretionary management services for private investors (and clients of professional advisers) including trusts, pension schemes and charities, whilst also managing multi asset funds-of-funds and a series of risk-based model portfolios for financial advisers.
Hurst Point Group was established in 2019 to facilitate investment by The Carlyle Group into the UK wealth management sector. It made its first investment in March 2020 with the acquisition of Harwood Wealth Management plc. Hawksmoor was acquired by the Group in March 2021.
Hines had known the management and shareholders of GBIM for a number of years. In particular, we understood the importance to the team of finding a partner who would recognise and preserve the core values of the business.
When GBIM decided to come to market, Hines had identified Hurst Point Group as a strong potential business partner whose flexible acquisition model could accommodate the continuity of service desired by management and whose ownership of Hawksmoor provided the opportunity to merge GBIM with a business which held similar cultural and business values.