The combined business, which has Permira as the main shareholder, is expected to manage £44bn in assets and generate around £530m of revenue

US private equity firm Warburg Pincus has struck a deal to back the merger between British wealth managers Tilney and Smith & Williamson.

The firm will join existing shareholder Permira as it invests over £250m in the business, a person familiar with the matter said.

Warburg Pincus invests £250m to secure Tilney-Smith & Williamson merger

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