DLA Piper advises Bestinvest management team on Permira buy-out

DLA Piper has advised the management team of UK wealth manager and online investment service Bestinvest on its acquisition by a company owned by Permira for an undisclosed sum.

The transaction is expected to complete in the first quarter of 2014, subject to regulatory approval.

David Raff led the DLA Piper team with support from Stephen Atkinson.

The Permira funds will back Bestinvest’s plans to capitalise on the ‘advice gap’ resulting from the Retail Distribution Review and will also help Bestinvest participate in industry consolidation.