Cartesian Growth received the required pre-closing approvals for a merger from the applicable regulatory and governmental authorities in jurisdictions where Tiedemann Group and Alvarium Investments Limited operate.
The goal of the merger is to create a global investment firm with $54 billion AUM.
If the SPAC’s shareholders approve, upon closing the combined company will operate as Alvarium Tiedemann Holdings and will list on the Nasdaq under the ticker symbol GLBL. The deal is expected to close in the second half of 2022.
As announced in September, the deal would be funded through a combination of Cartesian’s $345 million cash in trust and approximately $165 million in a fully committed PIPE.
Over 96% of equity held by active operating partners is expected to be rolled into the combined company, with all proceeds from the deal being used for capital structure optimization. Read more.
