Stanhope Capital Mergers with FWM as One Entity

Stanhope Capital and FWM Holdings, owner of Forbes Family Trust, announced a definitive merger agreement that creates one of the world’s largest independent wealth management and advisory groups with $24.2bn in assets under management.

The enlarged group aims to compete with established private banks, and offer clients access to private equity, real estate and hedge funds, as well as capital preservation strategies. Terms of the deal, which is expected to close in the first quarter of 2021, were not disclosed.

According to Stanhope, beyond a shared DNA, the combination of the two groups will expand its geographic footprint and significantly enhance its investment capabilities in public and private markets. This will be a direct benefit to clients but also to its teams.

The combined company will have 135 employees in six offices worldwide, with a "greatly enhanced" global investment team with capabilities across asset classes, including listed equities and alternatives such as real estate, private equity and hedge funds.

Daniel Pinto, who founded Stanhope Capital in 2004, will be chairman and CEO of the combined group on closing of the transaction. In addition, Keith Bloomfield will join Stanhope Capital's board of directors as vice chairman as well as the group's executive committee. Jonathan Bell, Stanhope's chief investment officer and a member of the board, will also become vice chairman.