Phoenix is pleased to announce it has exchanged contracts to sell its investment in Mobius to the U.S. specialist financial investor Motive Partners.
Subject to regulatory approval, the sale marks the thirteenth exit from Phoenix’s highly successful 2016 Fund. It is also seventh investment from the fund that has generated over a 3x gross multiple of cost.
Mobius is an award winning, independent investment administrator at the forefront of the UK pensions market. Combining deep industry expertise with its proprietary technology Mobius OS, the Mobius platform expands what is possible in pensions by providing access to a wider and more diverse range of investment opportunities. As a result, clients can manage their assets efficiently and build resilient and adaptable pension portfolios.
Phoenix partnered with Mobius in an off-market transaction in 2019, having identified the opportunity through its deep experience in retirement products. Since its initial investment, Mobius has more than doubled its Assets under Administration to over £30 billion and expanded its presence in the Defined Contribution and personal pension markets, pioneering new products and services for its clients.
Motive Partners are a specialist investor in financial technology and regulated financial services businesses. The sale will enable Mobius’ existing team to continue its expansion strategy across wealth, retirement and other financial products.
James Finch, CEO of Mobius, commented:
“We are extremely proud of the progress Mobius has made in recent years. With Phoenix’s support, we have built a leading financial technology platform helping clients reshape how pensions are designed, administered and delivered. As the complexity of investment administration increases, the need for modern, scalable infrastructure, combined with deep operational expertise has never been more important. We believe Motive Partners are ideally positioned to support the next phase of our journey.”
Tim Dunn, Senior Partner at Phoenix, commented:
“Mobius has been a fantastic partnership for Phoenix. We have worked with the team to diversify into new markets, develop multiple new products, expand the use of technology, and automate operations. Mobius benefits from a very strong team, and we are delighted that Motive Partners will continue Mobius’ journey, backing the team as an independent business and delivering another strong exit for Phoenix’s 2016 Fund.”
Scott Kauffman, Founding Partner & Head of Investments at Motive Partners, commented:
“Mobius has established itself as one of the most innovative and trusted investment administration platforms in the UK pensions market. We are excited to partner with James and the entire Mobius team to build on the strong foundation created alongside Phoenix, accelerate innovation, and support the company’s continued growth across pensions, wealth, and long-term savings.”
