| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 23 May 2022 |
| Pathway(s) | Significant business assets only |
| Investment | 100% of the shares of Alvarium RE Limited (which holds 46% of the Shares of Alvarium Investments (NZ) Limited (AINZ), among other New Zealand assets) |
| Asset Value | Withheld under s.9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Cartesian Growth Corporation (a special purpose vehicle listed on the NASDAQ exchange) |
| Vendor | Alvarium Investments Limited (a United Kingdom incorporated company, majority owned by two companies and otherwise widely held) |
| Background |
Cartesian Growth Corporation is a special purpose acquisition vehicle and is listed on the NASDAQ exchange. The Applicant is acquiring 100% of the shares in Alvarium RE Limited (UK). Alvarium RE Limited and its wholly and partly owned subsidiaries are domiciled in various jurisdictions including New Zealand. Its New Zealand assets include
AINZ provides wealth management services in New Zealand whereas NZ PropCo and Templeton HoldCo undertake property holding, development and investment activities in New Zealand. The Investment is part of a global business combination involving the Alvarium Group, Tiedemann Wealth Management Holdings, LLC (Tiedemann), and TIG Trinity GP, LLC and TIG Trinity Management, LLC (TIG). The Alvarium Group, Tiedemann and TIG will become wholly owned subsidiaries of the Applicant, as one global group. The Applicant has satisfied the investor test criterion. |
| More information | Alexia Grindle Mayne Wetherell Level 5 Bayleys House 30 Gaunt Street Auckland |