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Titan Wealth makes Dubai foray with AHR acquisition

Investment management firm eyes £100b of assets target

Published: Thu 25 Jul 2024, 6:51 PM

Updated: Thu 25 Jul 2024, 6:52 PM

By
Issac John

AHR Group senior management team

Titan Wealth, the private equity backed investment management and financial advice firm, is making a strategic foray into the UAE market with the acquisition of Dubai-based AHR Group.

The acquisition of the financial planning and wealth management firm for an undisclosed sum has boosted Titan’s assets under management above £20 billion.

Founded in 2020 with a focus on the expat community in Dubai, AHR advises and manages $2 billion of assets and employs over 150 people. It will be rebranded as Titan Wealth International.

AHR provides bespoke wealth management and cross-border financial advice for expatriates. It has offices in Mauritius, Malaysia, Cyprus, the UK, and Australia.

Titan said the acquisition demonstrated its ambition of building a "vertically integrated, client-focused financial services offering across multiple jurisdictions."

In a statement, the asset management firm, owned by a trio of private equity firms, Parthenon Capital Partners, Hambleden Capital and Ares Management, said the opportunity to move into the Dubai market is a strategic priority for the firm, and regard the region as having significant growth potential.

Andrew Fearon, joint CEO at Titan Wealth, said: “This acquisition is an exciting development for our clients, reflecting our dedication to delivering an integrated financial services offering on a global scale. We look forward to working closely with the talented team at AHR to build our proposition internationally, whilst helping them expand their services to both existing and future clients.”

Among Titan’s recent acquisitions was Loveday and Partners back in April, with £600 million of assets under management, and Wigmore Associates which was acquired in May.

Fearon said he expects the firm’s £100 billion of assets target to be reached through a combination of organic and inorganic growth, and in particular via companies using a wide variety of the Titan product range.

"We are now at the stage where the benefits of scale are visible for our business and for our clients, we have greater buying power with our suppliers, and cheaper supplier pricing. We are of course able to pass some of that on to our clients.”

Daniel Dickinson, co-founder of AHR said: “We built this business up from the ground. Partnering with a like-minded company like Titan means we can offer our clients much more. In terms of the expertise they have available, it might have taken us 10 years to get there, so it makes sense to partner with them now and have access to it now.”

The various overseas offices of AHR, including the London office, are “designed so that if a client leaves Dubai, we don’t lose them when they move somewhere else."