Swedish wealth manager Söderberg & Partners, backed by KKR and TA Associates, is acquiring Benchmark Capital from Schroders. This move significantly bolsters Söderberg's presence in the UK, adding to its existing European operations across Scandinavia, the Netherlands, Luxembourg, and Spain.

The acquisition brings £36.9 billion in assets under management and a substantial platform, including three advice networks and an investment platform, supporting over 1,000 UK financial advisers. This aligns with Söderberg's strategy to achieve greater scale and offer efficient technology-driven solutions.

For Schroders, the sale marks a strategic exit from the UK mass-affluent advice market, allowing it to focus on high-net-worth clients through Cazenove Capital. Schroders will retain a connection as a long-term asset management partner to Söderberg's expanded business. The deal underscores consolidation trends in the European wealth management sector, with Söderberg reportedly fending off competition from The Openwork Partnership.