Cartesian Growth Corporation (“Cartesian”) (NASDAQ: GLBL), a
publicly traded special purpose acquisition company, today
announced the filing with the U.S. Securities and Exchange
Commission (the "SEC") of a registration statement on Form S-4 (the
"Registration Statement") in connection with the previously
announced proposed business combination among Cartesian, Tiedemann
Group1 (“Tiedemann”) and Alvarium Investments Limited2
(“Alvarium”). The proposed business combination will form Alvarium
Tiedemann Holdings (“Alvarium Tiedemann”).
The Registration Statement contains a preliminary proxy
statement and prospectus in connection with the proposed business
combination. While the Registration Statement has not yet become
effective and the information contained therein is subject to
change, it provides important information about Tiedemann and
Alvarium and the proposed business combination with Cartesian.
Completion of the proposed business combination is subject to
the Registration Statement being declared effective by the SEC, the
approval of the proposed business combination by Cartesian's
shareholders, the receipt of regulatory approvals in certain
jurisdictions where Tiedemann and Alvarium operate, and other
customary closing conditions. Cartesian's Class A ordinary shares
are currently traded on Nasdaq under the symbol "GLBL." Upon
completion of the proposed business combination, Alvarium Tiedemann
Class A common stock is expected to be publicly listed under the
same ticker symbol.
“We are excited about the pending business combination to form
Alvarium Tiedemann and look forward to partnering with its proven
team as we introduce its differentiated investment platform to the
public markets,” said Peter Yu, Chairman and CEO of Cartesian. “As
the wealth management and investment advisory industry continues to
evolve, we believe Alvarium Tiedemann can extend its global
leadership position. We are optimistic about the opportunities this
potential combination will bring in 2022 and beyond.”
About Alvarium Investments
Alvarium is an independent investment firm, global multi-family
office and merchant banking boutique providing tailored solutions
for families, foundations and institutions across the Americas,
Europe and Asia-Pacific. Alvarium offers direct and co-investment
opportunities from specialist alternative managers and real asset
operating partners in real estate and the innovation economy.
Alvarium has over 220 employees and 28 partners in 13 locations in
10 countries, advising on approximately $22 billion of assets
across four service lines — investment advisory, co-investments,
merchant banking and family office services. For more information
about Alvarium, please visit www.alvariuminvestments.com.
About Tiedemann Advisors
Tiedemann Advisors is an independent investment and wealth
advisor for high-net-worth individuals, family offices, trusts,
foundations and endowments. Founded in 1999, Tiedemann Advisors has
nine offices across the US and provides trust services through
Tiedemann Trust Company, a state-chartered trust company located in
Wilmington, Delaware. Tiedemann's international operations,
Tiedemann Constantia, is headquartered in Zurich Switzerland.
Together, Tiedemann Constantia, Tiedemann Advisors and Tiedemann
Trust Company currently oversee $25 billion in assets under
advisement. For more information about Tiedemann Advisors, please
visit www.tiedemannadvisors.com and
www.tiedemannconstantia.com.
About TIG Advisors, LLC
TIG Advisors is a New York-based alternative asset manager with
approximately $7 billion in assets under management (inclusive of
assets under management of its affiliated managers), focused on
making growth equity investments in global alternative specialists.
TIG has a strong track record of identifying uncorrelated
investment opportunities in both public and private markets,
utilizing its long-standing operating platform to assist managers
with growth. The firm’s alpha driven investment strategies align
with the needs of a diverse global investor base. For more
information about TIG Advisors, please visit: www.tigfunds.com.
About Cartesian Growth Corporation
Cartesian Growth Corporation is a blank check company organized
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, or reorganization or engaging in
any other similar business combination with one or more businesses
or entities. Cartesian is an affiliate of Cartesian Capital Group,
LLC, a global private equity firm and registered investment adviser
headquartered in New York City, New York. Cartesian’s strategy is
to identify and combine with an established high-growth company
that can benefit from both a constructive combination and continued
value-creation. Cartesian is an emerging growth company as defined
in the Jumpstart Our Business Startups Act of 2012. For more
information about Cartesian Growth Corporation, please visit
www.cartesiangrowth.com.
Additional Information about the Business Combination and
Where to Find It
In connection with the proposed business combination, Cartesian
Growth Corporation will merge with and into the Tiedemann Group and
Alvarium to form Alvarium Tiedemann, which will be the surviving
entity and the going-forward public company, and has filed
Registration Statement with the SEC that includes a proxy
statement/prospectus and certain other related documents, to be
used at the meeting of Cartesian shareholders to approve the
proposed business combination. INVESTORS AND SECURITY HOLDERS OF
CARTESIAN GROWTH CORPORATION ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS, ANY AMENDMENTS THERETO AND OTHER RELEVANT
DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR
ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE
TIEDEMANN GROUP, ALVARIUM, CARTESIAN AND THE BUSINESS COMBINATION.
Promptly after the Registration Statement is declared effective by
the SEC, the proxy statement/prospectus will be mailed to
stockholders of Cartesian as of a record date to be established for
voting on the proposed business combination. Investors and security
holders will also be able to obtain copies of other documents
containing important information about each of the companies once
such documents are filed with the SEC, without charge, at the SEC’s
website at www.sec.gov. The information contained on, or that may
be accessed through, the websites referenced in this communication
is not incorporated by reference into, and is not a part of, this
communication.
Participants in the Solicitation
Cartesian and its directors and executive officers may be deemed
participants in the solicitation of proxies from Cartesian's
shareholders with respect to the proposed business combination. A
list of the names of those directors and executive officers and a
description of their interests in Cartesian is contained in
Cartesian’s filings with the SEC, including Cartesian’s final
prospectus relating to its initial public offering, which was filed
with the SEC on February 23, 2021, and is available free of charge
at the SEC's website at www.sec.gov. Additional information
regarding the interests of such participants is set forth in the
Registration Statement for the proposed business combination, as
may be amended. Tiedemann, Alvarium, and their respective directors
and executive officers may also be deemed to be participants in the
solicitation of proxies from the shareholders of Cartesian in
connection with the proposed business combination. A list of the
names of such directors and executive officers and information
regarding their interests in the business combination is contained
in the Registration Statement, as may be amended.
Forward-Looking Statements
Certain statements made in this press release are "forward
looking statements" within the meaning of the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"estimates," "projected," "expects," "anticipates," "forecasts,"
"plans," "intends," "believes," "seeks," "may," "will," "should,"
"future," "propose" and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. These
forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Tiedemann, Alvarium, or
Cartesian’s control, that could cause actual results or outcomes to
differ materially from those discussed in the forward-looking
statements. Important factors, among others, that may affect actual
results or outcomes include (i) the inability to complete the
business combination in a timely manner or at all (including due to
the failure to receive required shareholder approvals, failure to
receive approvals or the failure of other closing conditions); (ii)
the inability to recognize the anticipated benefits of the proposed
business combination; (iii) the inability to obtain or maintain the
listing of Cartesian’s shares on Nasdaq following the business
combination; (iv) costs related to the business combination; (v)
the risk that the business combination disrupts current plans and
operations as a result of the announcement and consummation of the
business combination; (vi) Cartesian, Tiedemann, and Alvarium’s
ability to manage growth and execute business plans and meet
projections; (vii) potential litigation involving Cartesian,
Tiedemann, or Alvarium; (viii) changes in applicable laws or
regulations, particularly with respect to wealth management and
asset management; (ix) general economic and market conditions
impacting demand for Cartesian, Tiedemann, and Alvarium’s services,
and in particular economic and market conditions in the financial
services industry in the markets in which Cartesian, Tiedemann, and
Alvarium operate; and (x) other risks and uncertainties indicated
from time to time in the Registration Statement, including those
under “Risk Factors” therein, and in Cartesian’s other filings with
the SEC. Forward-looking statements speak only as of the date they
are made. None of Cartesian, Tiedemann, and Alvarium undertakes any
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. None of Cartesian, the Tiedemann Group,
or Alvarium gives any assurance that any of Cartesian, Tiedemann,
or Alvarium, or the combined company, will achieve
expectations.
No Offer or Solicitation
This communication does not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination. This communication
also does not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor will there be any sale of
securities in any states or jurisdictions in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities will be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, or an exemption therefrom.
1 Tiedemann Group comprises Tiedemann Advisors LLC (“Tiedemann
Advisors”), a leading independent wealth and investment advisor for
high-net-worth families, trusts, foundations and endowments
particularly in the U.S.; Tiedemann Trust Company (“Tiedemann
Trust”); TIG Advisors LLC (“TIG”), an alternative asset manager;
and Tiedemann Constantia, the international operations of
Tiedemann. 2 Alvarium Investments Limited is a leading independent
global multifamily office, providing investment, real estate and
merchant banking services to multigenerational entrepreneurs,
families, foundations and institutions.
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version on businesswire.com: https://www.businesswire.com/news/home/20220210006033/en/
Media: Prosek Partners Jill Gordon jgordon@prosek.com
Investors: Prosek Partners Alex Jorgensen AlTi@prosek.com
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