FNZ (UK) Ltd., a British wealth management platform, has raised £1.5 billion with HPS, Arcmont, Goldman Sachs Asset Management and Hayfin, according to market sources.

The company refinanced in September with HPS, which provided an £800 million unitranche. It then looked for an incremental facility, and added another £700 million with the other three lenders.

The refinancing will support acquisitions, particularly of Germany's Fondsdepot Bank, sources said.

In February 2020, Temasek joined existing investors Caisse de dépôt et placement du Québec, or CDPQ, and Generation Investment Management, in a deal that valued the company at nearly £1.7 billion.

Previously, HPS provided a unitranche of more than €500 million to FNZ, backing Generation Investment Management's acquisition of a majority stake in 2018.

This is understood to be the biggest sterling unitranche facility in the market since Ardonagh Group agreed the largest unitranche seen globally in 2020, through a roughly £1.5 billion deal to refinance debt. That deal was provided through a club made up of Ares, CDPQ, HPS and KKR.

Axis Arbor and Kirkland & Ellis were advisers on the debt financing.

FNZ's technology, transaction and custody services enable its clients to provide wealth management solutions to financial advisers. According to the company's website, it has $1.5 trillion of assets under management.