Dyer Baade acted as exclusive financial adviser for Clifton Asset Management Plc on its investment from Private Equity firm CBPE
Dyer Baade & Company is pleased to announce that it has acted as exclusive financial adviser to the shareholders of Clifton Asset Management on the investment by CBPE Capital.
The transaction represents a significant milestone in Clifton’s development and reflects continued momentum in private equity wealth management deals across the UK, as financial sponsors seek high-quality, scalable advice businesses.
Transaction overview: private equity wealth management deals UK
CBPE has invested in Clifton Asset Management, a UK-based wealth management and financial planning firm with a differentiated proposition and strong growth trajectory.
The investment will support Clifton’s next phase of expansion, including continued organic growth and a targeted acquisition strategy, as the UK wealth management sector continues to consolidate.
This transaction is part of a broader wave of private equity investment in UK wealth management, driven by the sector’s attractive recurring revenue characteristics, fragmentation and significant buy-and-build opportunities.
Investor: CBPE Capital
Business: Clifton Asset Management
Sector: Wealth Management / Financial Planning
Geography: United Kingdom
Transaction type: Private equity investment
Dyer Baade role: Exclusive financial adviser to the shareholders of Clifton Asset Management
A long-term advisory relationship, not a one-off transaction
Dyer Baade’s role in this transaction builds on a multi-year strategic relationship with Clifton. Over a period of more than three years, Dyer Baade has advised the shareholders on strategic M&A positioning, growth strategy and capital structuring - which included a substantial debt raise in 2022 - culminating in this private equity investment.
In this transaction, Dyer Baade acted as exclusive lead adviser:
Architected and drove a highly competitive, multi-party process from initial positioning through to final investment terms
Positioned the business as a scarce, institutional-quality private equity platform, leveraging deep sector insight to sharpen the equity story
Activated Dyer Baade’s extensive network within the private equity community to engage a tightly curated group of high-conviction investors
Generated strong inbound interest and sustained competitive tension through disciplined process design and controlled access to information
Leveraged deep expertise in UK wealth management to anticipate investor requirements and pre-emptively address key diligence themes
Controlled the narrative throughout the process, ensuring consistent investor messaging and maintaining negotiating leverage at every stage
Defined valuation parameters and deal structure early, anchoring discussions from a position of strength in a competitive environment
Led all negotiations with multiple interested parties, tactically managing dynamics to drive incremental improvements in terms
Orchestrated alignment between shareholders, management and investors across parallel workstreams under tight timelines
Maintained absolute control of process momentum, driving decisions at critical inflection points to avoid dilution of competitive tension
Adam Tavener, Chairman of Clifton, said: “We have used Daniel and the team at Dyer Baade for both debt and equity raises to fund our expansion plans. On each occasion we found their approach highly professional and insightful. Their detailed knowledge of the Private Equity marketplace was instrumental in securing terms considerably ahead of our initial expectations. I would not hesitate to recommend them to other businesses looking to secure growth funding.”
Neil Greenaway, CEO of Clifton, commented: “We are pleased to welcome CBPE as our strategic investor. This partnership marks a transformative milestone in Clifton’s journey, building on the robust infrastructure we’ve created to deliver exceptional client outcomes within a strong compliance framework. Dyer Baade & Company have been a long-standing and trusted adviser of our firm on a number of M&A and corporate finance-related matters. Their insights, guidance and advice have been very valuable. I wouldn’t hesitate to recommend them to others who are looking for outstanding M&A advice.
Dr Daniel Baade, CEO Dyer Baade & Company said: “The team led by Neil Greenaway and Adam Tavener, have built one of the leading mid-market firms in the sector. The investment and support from CBPE will allow the firm to accelerate growth even further. It was a pleasure to have worked with everyone on the Clifton and CBPE side on this important transaction”.
Private equity and wealth management: a structurally active UK market
The UK wealth management sector continues to see sustained levels of private equity investment.
Key drivers of private equity wealth management deals in the UK include:
Highly fragmented market of independent advice and wealth firms
Strong recurring revenue models with predictable cash flows
Increasing demand for professionalised, scalable platforms
Succession challenges among founder-led businesses
Continued appetite from private equity for buy-and-build strategies
Against this backdrop, high-quality platforms such as Clifton remain in strong demand from institutional investors.
Sector expertise: advising on private equity wealth management transactions
Dyer Baade is a specialist adviser focused on wealth management and financial planning M&A in the UK, with deep expertise in private equity transactions.
We advise on:
Private equity investments (majority and minority)
Founder exits and partial liquidity events
Buy-and-build platform strategies
Debt raises and capital structuring
Strategic M&A advisory over multi-year horizons
Our approach combines long-term strategic advice with highly disciplined transaction execution, ensuring clients are optimally positioned before entering a process.
Considering a private equity investment or exit in the UK wealth management sector?
If you are a shareholder or management team considering a private equity investment, partial exit or full sale, early preparation and the right advisory approach can materially influence the outcome.
Dyer Baade advises clients on building, positioning and executing transactions across the UK wealth management sector.
Speak to our team to discuss your options in confidence.