Vontobel Snags a Minority Stake in Ancala Partners
Posted on 02/08/2024
Vontobel Holding AG (Vontobel) has agreed to acquire a significant minority stake in Ancala Partners LLP (Ancala), a London-based independent private infrastructure manager. This transaction marks Vontobel’s entry into institutional private markets and is a key milestone in delivering on its strategic priorities.
Vontoble is keen on getting business exposure to the private infrastructure space. Formed in 2010, Ancala Partners has total AuM of more than EUR 4 billion and manages 18 assets operating in essential infrastructure sectors including renewable energy and energy transition, transport, utilities and the circular economy. Its proactive approach to value creation is delivered by an experienced asset management team which includes Industry Partners – former CEOs and chairs of major infrastructure businesses.
Ancala will become the core of Vontobel’s private markets offering for institutional clients. On a day-to-day basis, the company will continue to be run independently by its management team, led by Managing Partner Spence Clunie, and will retain full independence over its investment and governance processes. Ancala and Vontobel are fully aligned for future growth and success and have agreed terms which enable Vontobel to acquire the further remaining stakes over the longer term. The senior leadership team at Ancala remain fully committed to its future.
The transaction will be financed out of Vontobel’s existing capital. Vontobel will continue to comfortably exceed its own target CET1-ratio of 12 percent. Subject to regulatory approval, the transaction is expected to close by the third quarter of 2024.
