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Towry raises £35m to fund RDR-fuelled expansion

by Rachael Revesz on Dec 19, 2012 at 10:51

Towry raises £35m to fund RDR-fuelled expansion

Towry has raised £35 million from new investors to fund expansion of the business as the retail distribution review (RDR) comes into effect. 

Towry has secured the investment from AlpInvest Partners and Honeywell Capital Management, co-investors of Palamon Capital Partners, Towry's majority shareholder.

Towry said the RDR presented it with 'significant opportunities to accelerate acquisitions and adviser recruitment'.

‘We have exciting expansion plans as we see enormous opportunities arising from the RDR,’ said Towry chief executive Andrew Fisher (pictured). ‘The new capital raised gives us a solid base from which to execute our plans for further growth.’

The new fundraising adds to the £47 million raised from Royal Bank of Scotland and Macquarie Bank earlier this year.

4 comments so far. Why not have your say?

James Clancy

Dec 19, 2012 at 12:26

Andrew if you see "exciting expansion plans and enormous opportunities arising from the RDR"

Why have you not invested your own wealth in the company in the

‘The new capital raising exercise, or just factored in more share options for yourself

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Reido

Dec 19, 2012 at 13:24

Welshman

Dec 19, 2012 at 15:27

AlpInvest Partners and Honeywell Capital Management must be missing a few sandwiches, they cannot have a full picnic!

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ivan lyons

Dec 23, 2012 at 16:26

So exciting Andrew, that you have positioned Towry Law into a pseudo St James Place. You are destroying the company.

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