Partnership Update

James Hambro & Partners announces minority investment from Bixby Wealth Solutions

James Hambro & Partners (“JH&P”), a leading independent UK wealth management business, is delighted to announce that Bixby Wealth Solutions (“Bixby”), an arm of Moontower Group, has made a minority investment in the partnership.

As part of this investment, Bixby is acquiring an equity interest from JH&P’s external shareholders and some of the founding-generation partners. Bixby is also making a capital investment into JH&P, resulting in an increase in the availability of equity participation for current partners and the next generation, incentivising and aligning the firm’s senior and future talent, and securing the long-term independence of the partnership.

Established in 2010, JH&P currently manages approximately £8 billion (c.$10.8bn) of assets on behalf of clients around the world. JH&P’s growth has been underpinned by a wealth management philosophy that sets it apart, combining a personal, high-touch approach to client service with institutional-level investment rigour and leading financial planning expertise.

Bixby, an arm of Moontower Group, is a specialist investor in independent wealth management firms and is backed by Carlyle’s (NASDAQ: CG) Global Credit Business. Bixby’s patient investment approach, combined with its expertise in supporting people-centric financial businesses, is aligned with JH&P’s long-term, client-focused and independent partnership culture.

The partnership with Bixby will enable JH&P to benefit from Bixby’s extensive US and international network, as well as their investment and technological expertise, to ensure that JH&P continues to deliver exceptional investment and financial planning solutions for its clients.

Austin, Texas-based Moontower Group was founded by Russell Valdez and Connor Stewart, who bring extensive experience of partnering with investment businesses and previously worked together in leadership roles at a global alternative investment manager with $30 billion of assets under management.

Jamie Hambro, Chairman of James Hambro & Partners, said: “I have always believed that our long-term success lies in our ability to retain the very best talent and plan for the future. This investment is about giving our people the opportunity to grow and be rewarded, because when our team thrives, our clients benefit. We’re excited to welcome Bixby, who share the client-first mindset that is at the heart of our culture and our success.”

Andy Steel, Chief Executive Officer of James Hambro & Partners, said: “In Bixby, we have found a partner that understands the value we place in our independence and our culture, as well as one with the expertise to support us in continuing to provide our clients with the best possible service and advice. This represents a hugely exciting opportunity for our clients and all of us here at JH&P.”

Russell Valdez, Managing Partner and Founder of Moontower Group said: “Wealth management is a space where too few firms try to do things differently, and JH&P therefore stands out for its unparalleled commitment to client service and in the expertise of its people. We look forward to supporting the team and the next generation of talent, while helping the business expand its presence in the UK and markets around the world.”

The transaction is subject to customary regulatory conditions, and the financial terms of the investment have not been disclosed.

James Hambro & Partners was advised by Spencer House Partners and Farrer & Co. Bixby Wealth Solutions was advised by Sidley Austin and Travers Smith.

About JH&P

James Hambro & Partners is an independently owned wealth management group established in 2010 by Jamie Hambro and seasoned industry experts. JH&P has approximately £8 billion of assets under management.

Today, as well as looking after the financial planning and investment needs of many private clients and their families, James Hambro & Partners also offers investment solutions to professional adviser firms and manages investments for trusts, charities and not-for-profit organisations.

About Bixby Wealth Solutions

Bixby Wealth Solutions, an arm of Moontower Group with the backing of Carlyle’s Global Credit business, is a specialist in forging strategic minority partnerships with independent wealth management firms and similar professional services businesses with a long-term horizon. The Bixby platform offers its partner companies scalable capital to fuel firm growth and facilitates and fosters a culture of internal equity ownership across generations.

About Moontower Group

Moontower is a private investment studio based in Austin, Texas. Our mission is to build enduring companies, lasting partnerships and thriving business ecosystems. We partner with exceptional people and companies and seek to power their generational vision with capital, talent and innovation. Moontower focuses on building businesses linked to financial services and real assets. Further information is available at www.moontower.com.

For further information, please contact:

Nepean Communications

Harry Roxburgh

hroxburgh@nepean.co.uk / +44 7814 372664

Luke Roberts

lroberts@nepean.co.uk / +44 7403 297251