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Oberon Investments Group PLC on Friday said it is in ‘advanced discussions’ to acquire the Wealth Management division from an unnamed UK firm, as it reported a fundraise to progress ‘opportunistic acquisitions’. The London-based investment management, wealth planning and corporate broking group said it has raised around £1.6 million through the issue of 39.5 million shares at 4.0 pence each. Shares in the company were last publicly traded on Thursday at 3.90p on London’s Aquis Exchange. The fundraise includes a placing of 29.2 million shares and a subscription for 10.3 million shares, with Oberon adding that it has received term sheets from two institutional shareholders to subscribe for around £3 million. This is taking place through a convertible loan note instrument, the company said, with no guarantee the CLN will be implemented, as the instrument remains subject to final documentation. The funds are earmarked to support the pursuit of ‘opportunistic acquisitions’, with Oberon reporting ‘strong growth’ and stating that it is ‘increasingly well placed’ to capitalise on these transactions. Oberon also noted that it is in ‘advanced discussions’ to acquire the Wealth Management division of an unnamed UK firm through an asset purchase agreement, expected to bring assets under administration of around £850 million. The fundraising and CLN are not conditional on this deal, nor on any of its planned appointments, Oberon said. The firm added that it is looking to establish a dedicated fund towards the end of the year to implement former Odey Asset Management chief executive Peter Martin’s ‘established and proven investment strategy.’ Martin joined Oberon Investments last month, alongside Jake Bambridge, also formerly of Odey Asset Management. Oberon said it has recently inked offer letters with three senior investment professionals, with an additional two expected to join in the first quarter of next year. Its target for the first six to 12 months is to attract over £200 million in assets under management through these appointments. ‘We have previously outlined our strategy of expanding Oberon’s service provision in the Investment and Wealth Management sectors through the acquisitions of high quality individuals and teams. We continue to see very exciting opportunities aligned with this strategy and I look forward to providing additional details in the near future, said Simon McGivern, CEO of Oberon Investments Group. ‘This fundraising today reflects the support for our strategy from existing and new investors and I am very grateful for that support, and the continued efforts of our employees,’ added McGivern. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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