Tenzing is proud to announce that we’ve made a 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.
Following the investment, our value creation strategy will focus on supporting Altum’s growth through continued investment in technology, new product development and sales, drawing on the experience of our Entrepreneurs Panel and Domain Experts. Furthermore, Altum operates in a large, fragmented market and we will help the company capitalise on this opportunity by providing dedicated Acquisitions Director support to complement the team in-house.
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.”
Altum is the sixth investment within Tenzing’s £400m Fund II, which started investing in 2021, and is one of thirteen high-growth businesses within the Tenzing portfolio. Tenzing was advised on the investment by Osborne Clarke, PwC, Arrow Point Advisory and EY. Management was advised by Carey Olsen and KPMG.