Socium Group, the investment vehicle backed by private equity firm Penta Capital, has acquired “a significant controlling stake” in London-based mortgage broker Charles Cameron & Associates.
The deal, the details of which were not disclosed, is the latest move in Socium’s five-year plan to build a 300 adviser-strong business, and arrives just months after Socium withdrew its purchase offer of Beaufort Group.
The firm bought CC&A from private equity investor Lonsdale Capital Partners, which acquired the brokerage in January 2018. The former owner claims CC&A’s exit generated returns more than double its initial investment.
Source: FT Adviser
By Ruby Hinchliffe
