Linklaters and Proskauer have taken the lead roles as financial advisory firm Shackleton Advisers acquires Hurst Point Group, in a deal set to create one of the UK’s largest independent financial planning firms, with combined assets under management of £17.5bn.
The deal marks the largest acquisition for UK-based financial adviser Shackleton, including both Hurst Point’s financial planning and investment management businesses. The combined entity will have 44,000 clients around the country and more than 850 employees, spread across 38 offices.
Linklaters advised Hurst Point and its majority shareholder The Carlyle Group on the sale, with a London-based team led by private equity and capital solutions partner Andrew Lynch and private equity partner John Tsui, as well as tax partner Jamie Coomber.
Lynch and Tsui previously acted for Carlyle in 2020, when Hurst Point, then known as Harwood Wealth Management, was taken private by the PE firm.
Proskauer is advising Shackleton, with a London team led by PE partner Adam Creed.
Creed also has a history working on deals involving Shackleton, including on the team that advised Lee Equity Partners on its June 2025 acquisition of a majority stake in the financial advisory firm, with Creed leading alongside fellow London PE partner Andrew Wingfield, on a team that also included London finance partner Barry Newman.
Under the terms of the deal, Carlyle will become a minority shareholder in Shackleton, while Lee Equity Partners will continue as the company’s majority shareholder.
Following the transaction’s completion, subject to regulatory approval, Shackleton non-executive chair Andrew Fisher and chief executive officer Paul Feeney will continue to serve in their respective roles at the combined business, while current Hurst Point CEO Andrew Westenberger will join the Shackleton executive committee.
Commenting on the deal, Fisher said: ‘The significantly increased scale of the Shackleton Group resulting from this acquisition will enhance our ability to invest efficiently in technology, propositions, and regulatory and compliance capabilities, for the benefit of clients, employees and shareholders.’
