US-based network buys Australian ultra-high-net-worth firm with Clarendon’s help

The sale is mutually beneficial to the companies, the lead lawyer says

US-based network buys Australian ultra-high-net-worth firm with Clarendon’s help

Clarendon Lawyers was the legal adviser of Escala Partners, which has agreed to join the network of advisory firms known as Focus Financial Partners.

The Clarendons team was headed by Tony Symons, managing director, and Adam Laidlaw, senior associate. They were assisted by lawyer Stepgen Dyason.

“This is a great outcome for both Escala and Focus. The sale offers fantastic benefits for both Focus and the shareholders of Escala. The shareholders have built a market-leading wealth management business and this transaction provides them with an opportunity to partially sell down their interest in the business and partner with a world leader in the financial management space,” Symons said. “The Hayne royal commission has shone a spotlight on the need for fiduciary advice, and Escala’s position as an objective and independent advisory firm with an ethos of trusted advice puts it in a strong position to continue to grow the business and its market share in the years ahead.”

Escala is a wealth management business with a focus on ultra-high-net-worth individuals, families, foundations, and institutional investors. It was founded in 2013 by a group of former UBS advisers, which was headed by Pep Perry. The firm, which is chaired by former UBS and Citigroup banker Brett Patton, has more than $5bn of assets under management and offices in Sydney, Melbourne, and Perth.

NASDAQ-listed Focus is a partnership of fiduciary wealth management firms in the US, Canada, United Kingdom, and Australia.

Related stories

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

Allens assists on $1.4bn capital raising applying ASX temporary class waiver

Hall & Wilcox plays major role in assets acquisition by fintech investor

CEO and managing partner parts ways with DWF

Authenticity and trustworthiness are critical to professional success, says G+T partner

Global healthcare company receives $1.2bn equity boost with HSF’s help

US bar comments on nationwide protests after George Floyd death

Most Read Articles

HSF pumps up global financial services regulatory team with new partner

Lander & Rogers beefs up technology and digital practice with new partner

COVID-19 and Australian courts and legal bodies updates: 1 June

DLA Piper supports nickel pig iron producer on $231m equity raising effort