Freshfields advises the founders of True Potential on their agreement to sell a majority stake to Cinven
Freshfields has advised the founders of True Potential on their agreement to sell a majority stake in the True Potential business, to funds managed by private equity firm Cinven.
Headquartered in Newcastle, True Potential was founded in 2007 by Chairman David Harrison and CEO Daniel Harrison. The business employs more than 350 people and works with more than 800 restricted advisers. The group provides technology and business support services to financial advisers and financial advisory services for private individuals. The investment will enable True Potential to continue its rapid growth in the financial services sector and to develop further its investment technology platform.
The transaction is subject to customary anti-trust and regulatory approvals.
The Freshfields team is being led by partners Keir MacLennan, Emma Rachmaninov, Peter Clements and Aled Batey.