Mobius Life was a small subsidiary of Alexander Forbes when management approached Manfield. Management were seeking to arrange a buyout and fund a growth phase of the business as their technology platform was disrupting the pension sector. Their platform was developed to allow actuaries and pension fund managers to manage their portfolios more cost effectively, more actively and give greater visibility to their clients on valuations and asset allocations.
The business was at quite an early stage at the time of the buyout with only a small number of clients. Manfield’s capabilities in separating businesses from their parent companies, strategic vision and operational capabilities to assist management meant that we could help management in achieving their aims in driving growth.
From acquisition the business grew assets under administration from c.£3.0 billion to c.£17 billion, and it now provides value adding services to more than 550 institutional clients including pension scheme trustees, consultants and advisers, asset managers, and life insurance companies.
In May, 2019, Manfield and Souter agreed the sale of Mobius Life to Phoenix Equity Partners (subject to regulatory approval).