Wealth manager Hoxton Wealth has made its first acquisition in Asia with the purchase of Infinity Financial Solutions.
The deal will add $300m (£225m) in assets under management to Hoxton’s portfolio, taking its total AUM to $3.3bn (£2.5bn).
Infinity is a provider of expat financial services with multiple offices across Asia while Hoxton Wealth has over 300 staff in the UAE, UK, USA, Australia, South Africa, Mexico and Cyprus and a client base of 7,000 individuals.
Hoxton Wealth’s CEO Chris Ball described the deal as “a huge step”, having focused the acquisition strategy on the UK domestic market to date.
“We are very excited to begin connecting with new clients and partners in a region where we did not previously have a huge presence, but which has an undoubtable opportunity for significant growth,” he said.
Trevor Keidan, managing director of Infinity Financial Solutions, said: “Hoxton Wealth has invested significantly in technology, enabling it to provide traditional financial planning powered by cutting edge technology and we are very excited to launch these services to Infinity clients.”
Looking at further acquisitions, Ball added: “For me, the next place we would love to start acquiring businesses is the US – it is a golden market.”
