Tribe Impact Capital has announced the acquisition of Snowball Impact Investments.
Tribe is an impact wealth manager and offers discretionary and advisory portfolio management. It is also a certified B Corps company.
Tribe said this acquisition “enhances its already established wealth management business by adding specialist private market capabilities for professional investors”.
The transaction sees 100% ownership of Snowball by Tribe with existing members from both Tribe and Snowball remaining invested.
Snowball is an impact platform and is also a certified B Corporation. It was co-founded by Alexander Hoare and James Perry.
Tribe said it shares a strong cultural alignment with Snowball and was founded on the same ideal, “to help investors achieve long-term financial returns together with positive social and environmental outcomes”.
Tribe founder and chair David Scott said: “This acquisition represents a pivotal moment in our journey. By bringing a respected name like Snowball into Tribe, we expand our reach in private markets and reinforce our commitment to move money in support of the UN SDGs.
“We continue to grow through extraordinary market conditions and we’re proud to be setting a new benchmark for what impact-led wealth management can achieve.”
Hoare co-founder and chair of Snowball added: “Snowball’s goal was always to make positive impact part of the future of all investing.
“By bringing together complementary strengths, we are creating a much broader and stronger offering that will help clients who would like simpler and robust access to investments that integrate impact, risk and return.
“I am delighted that Golden Bottle Trust is reinvesting to become a major shareholder in Tribe, joining other investors who have recognised it is possible to target both financial performance and measurable progress for society.”
The acquisition is subject to Financial Conduct Authority (FCA) approval.
