Pathfinder sells half its business

The deal will see Alvarium Wealth management join Pathfinder in a “strategic alliance”.

Co-founder and chief executive John Berry said the value of the deal was commercially sensitive.

Alvarium is a joint venture between UK-based global asset management business LJ Partnership, Tailorspace  - the investment company of Christchurch-based businessman Ben Gough -  and interests associated with investment manager NZAM.

Berry said he and co-founder Paul Brownsey wanted to take the business to the “next level” and cater for the desire for responsible investment in New Zealand, including new product ideas to pursue.