Investment firms on verge of merger

BENGALURU Investment companies Tiedemann Group and Alvarium Investments Ltd are on the verge of a deal to merge and go public through a special purpose acquisition company.

The combined investment firm, Alvarium Tiedemann Holdings, will be valued at about US$1.4 billion in the deal with the SPAC Cartesian Growth Corp, the Wall Street Journal has reported.

According to the report, the merger could be announced as soon as this week, with Alvarium Tiedemann expected to have about $54 billion in assets under management and advisement after combining Tiedemann’s US focus with Alvarium’s global presence.