Oakley Capital Private Equity has acquired a majority stake in BDO Investment Management.
Oakley has acquired an 84.4% stake in BDO, which provides wealth management and corporate benefit services to private individuals and corporates.
BDO LLP, the UK member firm of the BDO international network, is to retain a 15.6% stake in a bid to demonstrate its continued confidence and commitment to the business.
The strategic partnership is designed to provide BDO Investment Management with the necessary capital to grow its funds under management. (article continues below)
Oakley Capital Private Equity is an unlisted UK and European mid-market private equity fund.
David Pitman, who was the former chief executive officer (CEO) of Close Wealth Management, will take on the CEO role at BDO Investment Management.