One of the world’s richest men is after UK investment firm True Potential.
Bernard Arnault, the chief executive of Louis Vuitton owner LVMH, has bid through the blank-cheque company Pegasus Europe, which is also backed by former Unicredit boss Jean Pierre Mustier.
Blank-cheque vehicles are shell firms which list on the stock exchange to buy an existing business.
Making headlines: Bernard Arnault (pictured) is the chief executive of Louis Vuitton owner LVMH
Pegasus’s bid for True Potential could see it valued at as much as £2.5billion.
Other parties interested include private equity firms Cinven and Hellman & Friedman. True Potential uses online technology to offer wealth management and advisory services to savers.
It also has a site that helps advisers keep track of clients’ accounts, and offers pension auto-enrolment services to employers.
Founded in 2007 by David Harrison – whose stake is likely to be worth hundreds of millions of pounds – the firm is owned by its partners and private equity firm FTV Capital.
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