BDO Investment Management announces new strategic partner to further enhance client service

BDO Investment Management Limited (“BDOIM” or the “Company”), the UK-wide independent provider of wealth management and corporate benefits services to private individuals and corporates, today announces that Oakley Capital Private Equity (“Oakley Capital”) has invested in the Company as a strategic partner by acquiring an 84.4% majority stake. 

BDO LLP, the UK member firm of the BDO international network which is the world's fifth largest accountancy organisation, will sell the majority stake to Oakley Capital and will retain a 15.6% share in the Company.  This demonstrates BDO LLP’s continued commitment to and confidence in the business.

This strategic partnership with Oakley Capital will provide BDOIM with the necessary capital to fulfil its stated strategy of building scale by growing discretionary funds under management and adding high quality corporate clients whilst investing further to create a robust and scalable infrastructure.  This will enable BDOIM to continue to provide the very best in client service.

David Pitman, formerly CEO of Close Wealth Management and the new CEO of BDOIM, said: “I am delighted to be joining BDOIM and taking the Company forward on its next phase of growth.  BDOIM has a strong market position as an independent provider of client-focused advice with offices throughout the UK.  The combination of the Company’s highly qualified advisers and its fee-based business model will provide a sound building block to significantly grow the business.”

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For more information, contact:

Financial Dynamics

Ed Gascoigne-Pees
Ed.Gascoigne-Pees@fd.com
+44 20 7269 7132

Juliet Clarke
Juliet.Clarke@fd.com
+44 20 7269 7288

Keren Perrott
Keren.Perrott@fd.com
+44 20 7269 7218

Notes to Editors

About BDO Investment Management Limited

BDO Investment Management provides individuals, families and corporations with a full range of independent wealth management and benefit advisory services The Company has offices throughout the UK and employs just over 250 people.

BDOIM has three divisions: Asset Management, Corporate Pensions and Benefits and Private Clients. The Asset Management division offers investors access to innovative funds and investment opportunities and operates under the brand of Fitzwilliam Asset Management.

Corporate Pensions and Benefits provides corporate clients with pensions and investment advice as well as practitioners advising on risk and employee benefits.

The Private Client division provides a range of personal financial planning and investment solutions principally aimed at private clients and their families. This division includes a team of over 130 staff nationwide and provides fully independent financial advice.

BDO Investment Management Limited is authorised and regulated by the Financial Services Authority to conduct investment business. Registered in England and Wales under No. 02096406. Registered office 55 Baker Street, London W1U 7EU. BDO Investment Management Limited uses the BDO brand name and associated trademarks under licence. BDO LLP retains a minority shareholding in the BDO Investment Management Group. BDO Investment Management Limited is not a member of BDO International Limited nor a member firm of the international BDO network of independent member firms.

About Oakley

Oakley Capital Private Equity L.P. (“the Limited Partnership”) is an unlisted UK and European mid-market private equity fund with the aim of providing investors with significant long term capital appreciation.

The Limited Partnership’s investment strategy is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Limited Partnership seeks to invest in companies with scale in their industry subsectors, thereby creating a sustainable earnings stream which should command a premium on exit.