The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Cardea, Fourcore Capital
Atlanta headquartered Cardea Corporate Holdings, an emerging leader in global asset, wealth and investment management, this week announced that it has acquired technology and financial assets from Nobel Sustainability Capital Group â€“ a consortium of global investors led by Peter Nobel and Wu family members, rebranded as Fourcore Capital.

In connection with the transaction, NSCG has signed a binding agreement to contribute up to $25 million as an anchor investment in the company’s planned capital raise.

The new company is led by Jordan Waring, chairman of the management board and group CEO, Neil Fillary, group president and international CEO, and Peter Knez, chairman of Fourcore’s investment committee and former co-chief investment officer of BlackRock fixed income. Peter Nobel has been appointed chairman of the Fourcore board of directors.

The assets acquired include technology intellectual property (IP) and licensing, as well as investment management funds and entities. The IP and licensing encompass capabilities across blockchain technology, artificial intelligence (AI), digital wallet and tokenization, and they will enable the company to provide a comprehensive digital wealth and asset management offering. The investment management funds and entities enhance assets under management and fee-paying contracts, which will immediately increase the profitability profile of Fourcore.

The Fourcore name reflects the four pillars of the company’s approach to providing AI-enabled, personalized investment strategies and solutions for data analysis and increased asset liquidity. This includes predictive capabilities built from analyzing vast amounts of data from diverse sources and innovations to digitize and tokenize physical assets, enhancing liquidity and tradability. It also includes digital wallets that provide hyper-secure management of assets and transactions, with interoperable financial services and broader community engagement as well as AI-driven advisory systems.

“This partnership accelerates our growth path, bringing innovative technologies to empower asset managers and advisors with tools for better-informed decision-making on our path to the public markets,” Fillary said.

"The alternative asset management industry stands at a pivotal inflection point. We are creating a financial services powerhouse equipped with a proprietary AI platform that will meet the complex, evolving needs of investors – from generation to generation – and revolutionize how we approach alternative assets," Knez added.

In preparation for this transaction and the company’s next capital raise, the board of directors of Cardea Group has received a valuation report, dated August 14, 2024, from independent advisory firm Frost & Sullivan that estimates Fourcore to have an enterprise value of more than $5 billion.