International law firm Simmons & Simmons has advised the partners of Lockhart Capital Management (Lockhart), the UK-based financial planning and wealth management firm, on the investment by Northcote Equity to support the next phase of Lockhart’s long-term growth.
Founded in 2017, Lockhart manages more than £1 billion of client assets on behalf of more than 400 families. With offices across the UK, the firm provides highly personalised advice and investment management to high-net-worth individuals and families.
The partnership with Northcote Equity will enable Lockhart to continue investing in its technology and infrastructure, further strengthen its team, attract high-quality advisers and specialists, and expand its presence in existing and new regions.
Lockhart will remain majority owned and controlled by its employees, with a significant ownership stake for the founding partners and wider management team, who will continue to lead the business
The sector-focused Simmons & Simmons team advised on all legal aspects of the transaction, led by Corporate Partner David Hicks (London), who has particular expertise across the asset and wealth management sectors, and including Corporate Private Equity Partner Gemma Phillips, Corporate Tax Partner Helen Coward and Financial Services Regulatory Partner Camilla Jessel.
David Hicks commented: “We are delighted to have supported Lockhart on this important milestone in a key sector for Simmons & Simmons. Northcote Equity’s investment will provide additional resources to help the firm scale, invest further in its people and technology, and deepen its presence across the UK, while preserving the strength of Lockhart’s owner-led model.”
Chris Cole, Founding Partner at Lockhart, added, “We found Simmons & Simmons excellent from start to finish. Their deep sector knowledge and considered advice were of great value throughout the transaction, and they managed challenging timelines with calm professionalism. The partners involved worked seamlessly on our behalf, and we are very grateful for their support.”
