Having previously invested in Nucleus in 2019, Epiris will retain a significant minority interest and HPS will acquire a majority stake in the business, alongside the management team.
Nucleus is one of the largest financial planning and retirement-focused platforms in the UK, operating from offices in London, Salisbury, Edinburgh and Glasgow. The business administers £48 billion of customer assets across Self-Invested Personal Pensions, Individual Savings Accounts, general investment accounts and other products for over 3,000 financial advisers and more than 160,000 underlying clients.
The business was formed in 2021 through the combination of James Hay Partnership and Nucleus Financial Group.
The transaction will see no changes to Nucleus’ business model or management team.
Completion of the transaction is subject to regulatory approval. Financial terms are not being disclosed.