AlTi Tiedemann Global, a wealth and alternatives manager with more than $70 billion in assets, has acquired East End Advisors for a $76 million initial purchase price. The acquisition is expected to expand AITi Global’s wealth management and investment services provided to U.S. family offices.
East End Advisors, a New York-based independent advisory firm, manages about $5.6 billion in assets with a focus on ultra-high-net-worth family clients and foundations. The acquisition of East End will support AITi’s growth within the market for outsourced chief investment officers. Oppenheimer & Co. Inc. was AlTi’s financial adviser for the acquisition.
AlTi Global’s move for East End comes after Allianz X announced an investment of up to $450 million in AlTi Global in February. Allianz X is the investment arm of the German insurance giant Allianz and the alternative-asset management platform Constellation Wealth Capital.