UK private equity firm CBPE Capital LLP has made a “strategic investment” in Bristol-based wealth and pensions manager Clifton Asset Management.

The investment will partly be used to speed up Clifton's acquisition programme.

CBPE is partnering with Clifton’s management team, including CEO Neil Greenaway, who are also reinvesting in the business alongside CBPE.

The new investment will be used to boost Clifton’s growth through organic development and strategic acquisitions. The deal is subject to regulatory approval.

The size of the new investment has not been disclosed.

Clifton was founded in 1986 and operates as a vertically integrated wealth manager. Services include retirement planning, tax advice, asset management and a wealth platform. It focuses on individuals and small to medium-sized enterprises (SMEs).

Clifton manages over £1.8 billion in group assets and serves more than 9,000 clients with the support of 110 employees.

The company has developed its own proprietary technology platform, Connects-X, which integrates a client-facing portal with a back-office system.

The firm says it has used its technology to help integrate four advisory firm acquisitions over the past two years, including Burnett & Reid Wealth Management, Noble James and GB Financial Services.

CBPE has experience in the UK Financial Planning, financial services and wealth management markets and recently exited from wealth management firm Perspective Financial Planning. It was also involved in the IPOs of pensions provider Xafinity, as well as the exit from Compre (a legacy insurance firm) to Cinven Partners.

CBPE’s current portfolio includes investments in Direct Commercial Group (a commercial motor MGA), Centralis (corporate services), and BKL (accounting services).

Neil Greenaway, CEO of Clifton, said: “CBPE’s proven track record in supporting high-growth financial services companies makes them the ideal partner for us.

"Our proprietary, technology-enabled platform and scalable operating model uniquely position Clifton to integrate quality financial advisory firms into our community. With CBPE’s expertise and financial backing, we are excited to accelerate our acquisition strategy while maintaining the high standards that have driven our success.”

Richard Thompson, partner at CBPE, said: “We are delighted to be working with the Clifton team. We have been impressed with what management have built. Clifton is well invested, with a deep commitment to client service and regulatory compliance. With a scalable business model and a clear focus on accelerating its M&A strategy, focusing on small and medium sized IFAs, the business is well-positioned to continue its growth journey.”