Alvarium And Pathfinder Merge Creating Wealth Management Leader

Alvarium today announces it has taken full control of the award-winning ethical investment manager Pathfinder Asset Management, combining the two organisations into a private wealth leader overseeing more than $500 million in assets in New Zealand.

Alvarium Wealth is acquiring the outstanding 49% of Pathfinder Asset Management it did not already own, primarily from Pathfinder Co-Founders John Berry and Paul Brownsey, who respectively become the Chief Executive and Chief Investment Officers at Alvarium Wealth New Zealand. Paul and John will also take a 30% shareholding in the combined New Zealand wealth business.

The acquisition of the stake integrates Pathfinder into the global Alvarium network, an international wealth management business that looks after $25 billion on behalf of wholesale investors such as high net worth individuals, charities and family offices around the world.

Alvarium UK Co-Founder Andrew Williams set up Alvarium’s New Zealand operation on his permanent move to NZ in 2017, with Ben Gough and Brett Gamble. Its Alvarium Wealth subsidiary purchased 51% of Pathfinder in 2019. Williams, a director of Alvarium in NZ, says: “Investors globally continue to seek good financial returns and are also turning in droves to funds that embed environmental, social and governance (ESG) factors into their investment decisions.

“Recent years have seen significant fund flows into ESG investments. Across our global network we see this as a permanent shift to the investment climate and not simply a trend. Much of this is driven by wealth transitioning to the next and younger generation.

“John, Paul and the Pathfinder team have marked themselves out as global leaders in responsible investment. They launched their first ethical fund in 2010 and have since established a track record for not only delivering great returns, but also doing so responsibly and ethically. We are delighted to support their continued growth in New Zealand and indeed to have their market leading expertise as part of Alvarium’s global network.”

Pathfinder and now Alvarium Wealth Chief Executive John Berry said: “We are delighted to cement our ties with Alvarium. Its commitment and support has assisted us over the last year to more than double the amount we manage in our ethical and responsible funds.

“We’re looking to build on this momentum. The combined New Zealand business offers investors unique access to a global network of investment opportunities, enhanced access to global listed markets, and local and global investment expertise. We know we have an investment edge and we plan to grow in both wholesale and retail markets.”

Pathfinder will continue as a separate brand with its unique ethical investment approach, which also includes the support of 17 New Zealand-based charities through its CareSaver KiwiSaver scheme.

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