other_material
confidence medium
sentiment negative
materiality 0.70
AlTi Global to wind down International Real Estate business via UK administration
AlTi Global, Inc.
- Board appointed administrators from Teneo for an orderly wind-down of the IRE business.
- IRE business had been reliant on funding from the rest of the Company and incurred ongoing losses.
- Administration is limited to IRE; dedicated team will continue investor reporting and asset management.
- IRE was an independently-managed arranger and distributor of real estate transactions.
item 8.01item 9.01