Oaktree said to select banks to help arrange utmost London IPO

Oaktree said to select banks to help arrange utmost London IPO

Oaktree Nears Adviser Appointments for Potential Utmost London IPO

Oaktree Capital Management, a Brookfield Asset Management subsidiary, is reportedly advancing plans to explore exit options for Utmost Group, a UK-based insurance-focused wealth solutions provider, including a potential London initial public offering (IPO) or sale. According to Bloomberg sources, Oaktree is nearing the appointment of financial advisers to oversee the process, though discussions remain preliminary and subject to change.

Utmost Group, established in 2013, specializes in insurance-based investment products for high-net-worth clients and reported £116.3 billion in assets under administration as of year-end 2023. The firm has already divested its UK life and pensions division, selling it to JAB Insurance for £250 million in 2023. Proceeds from that transaction were allocated to repay debt incurred during Utmost's acquisition of Lombard International's wealth management business.

If pursued, a London IPO could value Utmost at approximately £2 billion ($2.7 billion), according to sources. A public listing would align with broader trends of increased consolidation and deal activity in the UK insurance and wealth management sectors. Recent transactions include Nuveen's £9.9 billion acquisition of Schroders and NatWest Group's £2.7 billion purchase of Evelyn Partners. A successful IPO could also provide a much-needed boost to London's stock exchange, which has seen limited new listings in recent years.

Oaktree has not commented on the potential transaction, and Utmost declined to respond to requests for comment. The outcome of the review will depend on market conditions, strategic alignment, and competitive bids, if any. Should a sale materialize, it would represent a significant exit for Oaktree in a maturing UK wealth management landscape.

This article is for informational purposes only and does not constitute financial advice.