AlTi Tiedemann Global Closes Previously Announced Constellation Wealth Capital Investment
27 Mars 2024 - 9:38PM
Business Wire
AlTi Global, Inc. (NASDAQ: ALTI) (“AlTi” or the “Company”), a
leading independent global wealth and alternatives manager with
over $70 billion in combined assets, today announced the closing of
the initial investment from Constellation Wealth Capital (“CWC”).
CWC, an investment advisory firm specializing in making investments
in industry-leading wealth managers, has made an initial investment
of $115 million in AlTi, as part of the previously announced
strategic investment of up to $450 million from Allianz X and
CWC.
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AlTi will use the capital principally to fund its mergers and
acquisitions pipeline and organic growth activities.
Under the terms of the agreement, AlTi sold 115,000 shares in
newly created Series C Convertible Preferred Stock for a purchase
price equal to $115 million, and issued warrants for 1,533,333
shares of AlTi’s Class A common stock.
As previously reported, during the period commencing May 1, 2024
until September 30, 2024, AlTi is permitted to deliver a capital
demand notice requiring CWC to purchase an additional 35,000 shares
of Series C Convertible Preferred Stock, representing an additional
investment equal to $35 million, subject to applicable regulatory
approvals and other customary closing conditions. In the event AlTi
delivers such notice, CWC will also receive warrants to purchase
466,667 shares of Class A Common Stock.
Further details are included in the Company’s current report on
Form 8-K filed with the Securities and Exchange Commission.
About AlTi
AlTi is a leading independent global wealth and alternatives
manager providing entrepreneurs, multi-generational families,
institutions, and emerging next-generation leaders with fiduciary
capabilities as well as alternative investment strategies and
advisory services. AlTi’s comprehensive offering is underscored by
a commitment to impact or values-aligned investing and generating a
net positive impact through its business activities. The firm
currently manages or advises on over $70 billion in combined assets
and has an expansive network with approximately 480 professionals
across three continents. For more information, please visit us at
www.alti-global.com.
About Constellation Wealth Capital
Constellation Wealth Capital is an alternative asset management
platform dedicated to the wealth management sector. CWC provides
flexible, long-term capital solutions, and strategic advisory
support to scaled wealth management platforms.
CWC leverages its deep industry experience and relationships for
the benefit of its partner firms. Learn more at
www.constellationwealthcapital.com.
Forward-Looking Statements
Some of the statements in this press release may constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 (the “Securities Act”), Section 21E of
the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact are forward-looking. Words such as “anticipate,”
“believe,” “continue,” “estimate,” “expect,” “future,” “intend,”
“may,” “plan” and “will” and similar expressions identify
forward-looking statements. Forward-looking statements reflect
management’s current plans, estimates and expectations and are
inherently uncertain. The inclusion of any forward-looking
information in this press release should not be regarded as a
representation that the future plans, estimates or expectations
contemplated will be achieved. Forward-looking statements are
subject to various risks, uncertainties and assumptions. Important
factors that could cause actual results to differ materially from
those in forward-looking statements include, but are not limited
to, global and domestic market and business conditions, successful
execution of business and growth strategies and regulatory factors
relevant to our business, as well as assumptions relating to our
operations, financial results, financial condition, business
prospects, growth strategy and liquidity and the risks and
uncertainties described in greater detail under “Risk Factors”
included in AlTi Global's registration statement on Form 10-K filed
March 22, 2024, and in the subsequent reports filed with the
Securities and Exchange Commission, as such factors may be updated
from time to time. We undertake no obligation to revise or update
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240327526461/en/
AlTi Investor Relations: Lily Arteaga, Head of Investor
Relations, investor@alti-global.com
AlTi Media Relations: Alex Jorgensen,
pro-alti@prosek.com
Constellation Wealth Capital Media Relations: Mike
Geller, mgeller@prosek.com
AITi Global (NASDAQ:ALTI)
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