Tenzing invests in Altum, a leading provider of fund, corporate and family office administration solutions
Arrowpoint Advisory’s Business Services team has advised Tenzing on their strategic investment into Altum, formerly known as the LGL Group, alongside senior management.
Founded in 2000, Altum is an established Jersey-based firm led by CEO Zena Couppey. Its leading fund, corporate and family office administration solutions enable it to solve complex and often multi-jurisdictional challenges for its global clients. The firm has a solid track record of delivering double-digit organic growth, and churn is less than 1%. It gained its strong reputation amongst its loyal client base for being a trusted provider of high-quality service and excellent customer experience.
Demand for Altum’s solutions continues to grow due to the introduction of more complex structures, increased regulation, additional global wealth creation and strong underlying global fund activity and fundraisings. The trust, corporate and fund administration services market is now estimated to be worth c.£7.5bn globally and is growing at c.5% per annum.
Zena Couppey, CEO of Altum, commented: “Tenzing was carefully selected as our preferred partner because we share the same vision and culture of putting our clients and people first. The transaction is also a significant vote of confidence in our strategy, talented team, and ambition. We are delighted to be working with Tenzing and look forward to continuing to provide our clients with exceptional quality of service.”
Christian Hamilton, Co-Founder and Joint Managing Partner of Tenzing added: “With such a strong and experienced management team at the helm, Altum is well-positioned to capitalise on the impressive market growth we are seeing in this sector. Zena and her team have already put in many of the foundations needed to scale Altum to the next level, especially when it comes to tech, team and process. We’re excited to partner with them to drive more organic and inorganic growth whilst continuing to deliver the world-class service that their clients love.”
Gareth Healy, Partner of Tenzing, went on to add: “We would like to thank the Arrowpoint Advisory team for their invaluable market insight and execution support to get this deal over the line.”
Will Evans, Director at Arrowpoint Advisory, concluded: “We are delighted to have supported Tenzing on this exciting investment. Altum is a standout asset in the sector with an exceptional management team. We wish them all the best and look forward to seeing the business thrive going forward.”