AlTi Global Acquires $3B Multifamily Office

AlTi Global, Inc., a publicly traded independent global wealth manager with combined assets of over $70 billion, has acquired Minneapolis-based Envoi, LLC, a multifamily office with $3 billion in assets under management.

The latest transaction follows AlTi’s acquisition of East End Advisors, an independent advisory firm that manages approximately $5.6 billion for ultra-high-net-worth families, endowments, and foundations, as it continues to build a platform aimed at the UHNW segment, which includes alternative investments.

The move also follows AlTi’s recent growth in Dallas, with the hiring of Richard Joyner as head of central U.S., to lead expansion in the region.

AlTi’s is using up to $450 million from Allianz X and Constellation Wealth Capital to fund its mergers and acquisitions pipeline and organic growth activities, the company said.

“As we contemplated the next phase in our evolution, AlTi Tiedemann Global emerged as the best partner to deliver a permanent family office solution to our 35 client families,” said Ryan Steensland, principal of Envoi. “They share our commitment to represent the best interests of clients and seek excellence in providing customized and innovative strategies to grow wealth.”

Houlihan Lokey, Inc. is serving as AlTi’s financial and tax diligence advisor. Seward and Kissel LLP is acting as AlTi’s legal advisor. Piper Sandler & Co. and Stinson LLP are serving as financial advisor and legal advisor, respectively, to Envoi.