NEW YORK–(COMMERCIAL THREAD)–Cartesian Growth Corporation (“Cartesian”) (NASDAQ: GLBL), a publicly traded special purpose acquisitions firm, today announced that at an extraordinary general meeting held on Nov. 17, 2022, its shareholders voted to approve the proposed business combination (the “Business Combination”) with Tiedemann Group (“Tiedemann”) and Alvarium Investments Limited (“Alvarium”).
The processes relating to the closure are in progress; In the interest of accounting simplicity of the merger, the closing will be held on or about January 3, 2023, following the end of fiscal 2022.
Upon closing, the combined company will trade as Alvarium Tiedemann Holdings (“Alvarium Tiedemann” or “AlTi”) and its common stock and warrants are expected to be listed on the NASDAQ under the ticker symbols “GLBL” and “GLBLW”, respectively.
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 in the Americas, Europe and Asia-Pacific region. Alvarium offers direct and co-investment opportunities from specialist alternative managers and partners operating in the real estate sector and the innovation economy. Alvarium has over 220 employees in 13 offices in 10 countries, who advise on four lines of services: investment advice, co-investments, merchant banking services and family offices. For more information about Alvarium, visit www.alvariuminvestments.com.
About the Tiedemann Group
Tiedemann Group comprises Tiedemann Advisors LLC (“Tiedemann Advisors”), a leading independent wealth and investment advisor to wealthy families, trusts, foundations and endowments, particularly in the United States; TIG Advisors LLC (“TIG”), an alternative asset manager; and Tiedemann Constantia, the international operations of Tiedemann Advisors.
Tiedemann Advisors is an independent investment and wealth advisor for wealthy individuals, family offices, trusts, foundations and endowments. Founded in 1999, Tiedemann Advisors has nine offices throughout the United States. Tiedemann’s international operations, Tiedemann Constantia, are headquartered in Zurich, Switzerland.
TIG Advisors is a New York-based alternative asset manager focused on making growth equity investments in global alternative specialists. TIG has a strong track record of identifying uncorrelated investment opportunities in public and private markets, using its long-standing operating platform to assist managers in their growth. The firm’s alpha-driven investment strategies align with the needs of a diverse global investor base.
For more information about the Tiedemann Group, visit www.tiedemannadvisors.com, www.tiedemannconstantia.com and www.tigfunds.com.
About Cartesian Growth Corporation
Cartesian is a blank check company organized for the purpose of effecting a merger, capital exchange, asset acquisition, stock purchase or reorganization, or to engage 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 advisor headquartered in New York City, New York. Cartesian’s strategy is to identify and join 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, visit www.cartesiangrowth.com.
Certain statements contained 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,” “forecasts,” ” expects”, “anticipates”, “predicts”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, “future”, “proposes” and variations of these words or similar expressions (or 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 beyond the control of Tiedemann, Alvarium or Cartesian, which could cause actual results or outcomes 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 failure to receive necessary shareholder approvals, failure to receive approvals or failure to meet other closing conditions); (ii) the failure to recognize the anticipated benefits of the proposed business combination; (iii) the inability to obtain or maintain a listing of Cartesian’s shares on the Nasdaq as a result of the business combination; (iv) costs related to the business combination; (v) the risk that the business combination will disrupt current plans and operations following the announcement and completion of the business combination; (vi) the ability of Cartesian, Tiedemann and Alvarium to manage growth, execute business plans and meet projections; (vii) potential litigation involving Cartesian, Tiedemann or Alvarium; (viii) changes in applicable laws or regulations, especially regarding asset management and asset management; (ix) general economic and market conditions affecting the demand for Cartesian, Tiedemann and Alvarium services, and in particular economic and market conditions in the financial services sector in the markets in which Cartesian, Tiedemann and Alvarium operate; and (x) other risks and uncertainties set forth in the Registration Statement from time to time, including those in “Risk Factors” contained therein and in other filings by Cartesian 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 statement, whether as a result of new information, future events or otherwise, except as required by law. None of Cartesian, Tiedemann or Alvarium guarantees that Cartesian, Tiedemann or Alvarium, or the company combined, will meet expectations.
No offers or solicitations
This communication does not constitute a solicitation of delegation, consent or authorization in connection with any title or in connection with the proposed business combination. Further, this communication 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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of those jurisdictions. No offer of securities will be made except through a prospectus which satisfies the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.