TRANSACTION SUMMARY

On 18 September 2020, Schroders plc (“Schroders”) announced that it has reached an agreement to acquire London-based family office Sandaire, as part of the group’s overall strategy to grow its wealth management business. This provides an exceptional opportunity to grow Cazenove Capital’s leading position in the UK Ultra High Net Worth segment and to offer a unique global service to multi-jurisdictional families and their advisers through our wealth management businesses in the Channel Islands, Switzerland and Asia. This will combine the boutique-style service of Sandaire with the depth of international investment expertise and financial stability and strength of Schroders, a FTSE 100 company still largely owned by the family who founded it over two centuries ago.

Sandaire will merge with Schroders’ UK Wealth Management subsidiary Cazenove Capital, one of the UK’s leading advisers to families of significant wealth, family offices and endowments.

SANDAIRE

The Scott family founded Sandaire in 1996 when Provincial Insurance, the family business originally founded by Sir James William Scott in 1903, was sold. Sandaire was established initially to preserve and grow the wealth of the family and, under the leadership of its founder, Alex Scott, grew to provide advice to other multi-generational families of significant wealth. At 30 June 2020, Sandaire had £2.1 billion of assets under management.

CAZENOVE CAPITAL

Part of Schroders, Cazenove Capital provides a wide range of wealth management services, which focus on preserving and growing clients’ wealth. The strategic ambition is to provide wealth management services across the wealth spectrum (bespoke discretionary and advisory investment services, wealth planning and banking) in the UK for private clients, family offices and charities and for HNWI in the Channel Islands.

In 2013, Cazenove Capital came together with the Wealth Management arm of Schroders, two businesses with histories that stretch back over 200 years.

SCHRODERS PLC

Schroders is a publicly-listed global asset and wealth manager established in 1804 and managed £525.8bn of assets as at June 2020. Schroders employs over 4,700 FTE and operates on 35 locations across Europe, the Americas, Asia, the Middle East and Africa. Over 47% of capital is controlled by the founding Schroder family.

ROLE

SHP acted as financial adviser to Applerigg on the sale of Sandaire to Schroders.