Investment firms Tiedemann, Alvarium close to merging, going public via SPAC -WSJ

(Reuters) - Investment companies Tiedemann Group and Alvarium Investments Ltd are on the verge of a deal to merge and go public through a special purpose acquisition company, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

The combined investment firm, Alvarium Tiedemann Holdings, will be valued at about $1.4 billion in the deal with the SPAC Cartesian Growth Corp, the report said.

According to the report, the merger could be announced as soon as this week, with Alvarium Tiedemann expected to have about $54 billion in assets under management and advisement after combining Tiedemann’s U.S. focus with Alvarium’s global presence.

Both Tiedemann and Alvarium did not immediately respond to Reuters requests for comments.

Reporting by Vishal Vivek in Bengaluru; Editing by Peter Cooney