Clifford Chance has advised international private equity firm Cinven on a major investment in True Potential, with the company’s founders, management, and private equity firm FTV Capital selling an undisclosed, majority stake in the business to Cinven. The transaction will position Cinven and True Potential to benefit jointly from a growing market in the UK wealth management and technology sector, and to further develop an industry-leading investment technology platform.
True Potential is a wealth management and technology business currently working with close to 20 percent of UK financial advisers as well as more than 1.4 million retail clients in the UK. The deal continues Cinven’s longstanding track record of investments in both the Financial Services and TMT sectors, with Clifford Chance playing a supporting role as a key legal advisory partner.
Clifford Chance’s multidisciplinary team was led by Jonny Myers, head of the global private equity practice with support from Ashley Prebble, head of the firm’s Financial Institutions Group in London and Christopher Sullivan, (Private Equity and Cinven relationship partner). Private equity Associates on the team included Shimin Lee, Ciarán Cronin, Georgia Demeure. Ashley Prebble was supported by Partner Narind Singh, and Associates Emma Eaton and Amy Bennett (Financial institutions).
Leveraged financing advice was provided by a unified team covering bank lending and capital markets disciplines, led by Michael Dakin and Richard Day. Other team members included Partners Paul Ellison (Regulatory), Sue Hinchliffe (Antitrust) and Mike Crossan and Sonia Gilbert (Employment benefits).
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