Simon Chamberlain, group chief executive officer of Succession
Inflexion Private Equity has bought a majority stake in Succession Holdings.
Inflexion has purchased 50.1% of the shares in Succession, the national financial advisory business.
It will make further funding available through to 2017 for acquisitions to add to Succession's membership base.
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Simon Chamberlain, group chief executive officer of Succession, said: "We came into the market place less than five years ago and today we have 62 member firms which advise on over £8bn of assets.
"Our business is on target to achieve its goal of acquiring the best 50 of our member firms between now and 2017."
Mr Chamberlain and Ray Pierce will remain as group chief executive and non-executive chairman respectively.
Richard Swann, partner at Inflexion, said: "We have been looking for a model to support in the post-RDR advisory space and were impressed by Succession's 'back to front' consolidation model.
"Succession's proposition addresses the fundamental difficulties of the past - where consolidators have acquired IFA firms but have struggled to demonstrate that they can consolidate them effectively. Succession's model is completely different to this."