Tilney was one of the UK’s largest independent providers of wealth management services to high net worth clients when Bridgepoint acquired the business in 2005. The company offered clients sophisticated in-house asset management products such as equities, fixed interest, commercial property and hedge funds as well as third party products.
Bridgepoint was attracted to the company by a combination of Tilney's strong brand, diversified asset management offering, loyal customer base, strong regional network and the opportunity to implement a selective 'buy and build' strategy in a fragmented competitor landscape.
Under Bridgepoint's ownership funds under management grew by 30% to €6.7 billion, profitability doubled and it made several strategic acquisitions as part of a product diversification strategy.
In 2006, Tilney was acquired by Deutsche Bank's private wealth management division for an undisclosed sum, resulting in Bridgepoint achieving a significant money multiple.