Aspirity Partners invests $135m in Hoxton Wealth

Aspirity Partners has invested $135m in Hoxton Wealth, the expatriate wealth manager's first external funding round, according to a report by Bloomberg. The investment is reported to support Hoxton's international expansion, recruitment and strategic acquisitions.

Hoxton was founded in 2018 and is headquartered in London and Dubai. It operates across 10 jurisdictions, serves about 10,000 clients and manages more than $5bn in assets. Co-founder Chris Ball is reported to retain a majority stake after the transaction.

Aspirity, which closed its inaugural fund at more than €875m last year, focuses on financial technology and services, enterprise technology and connectivity. Aspirity estimates the market for internationally mobile clients at $1.2tn, growing 16% annually, with only a quarter receiving financial advice.