Company type | Public limited company |
---|---|
Industry | Financial services |
Founded | 1 July 1981 |
Founders | |
Headquarters | Bristol, England, UK |
Key people |
|
Products | ISA, SIPP, Annuities, Income drawdown |
Revenue | £735.1 million (2023) [1] |
£384.4 million (2023) [1] | |
£323.7 million (2023) [1] | |
Total assets | £1,285.8 million (2023) [1] |
Total equity | £709.7 million (2023) [1] |
Number of employees | c. 2,000 (2024) [2] |
Website | hl |
Hargreaves Lansdown plc is a British financial services company based in Bristol, England. It sells funds, shares and related products to retail investors in the United Kingdom. It is the largest investment platform in the UK. [3] The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
The company was founded on 1 July 1981 [4] by Peter Hargreaves and Stephen Lansdown who had initially traded from a bedroom. [5] Hargreaves Lansdown initially provided information to clients on unit trusts and tax planning matters. [6] Now, the company has grown to be one of the largest in Bristol, located at One College Square, Harbourside. [7]
The company was first listed on the London Stock Exchange in May 2007, with the company's two founders then holding combined stakes equivalent to 80% in the business. [8] In April 2009, Lansdown sold a stake of 4.7% for a sum of £47.2million to put towards the cost of building Bristol City F.C.'s new football stadium, reducing his stake to 22.9%. [9]
In 2019, Hargreaves Lansdown suffered reputational damage when trading was suspended in the Woodford Investment Management fund, which Hargreaves Lansdown had been promoting through its Wealth 50 list despite concerns about the fund's investment strategy and underperformance. [10] [11] In October 2019, retired founder Peter Hargreaves, still the owner of 32% of Hargreaves Lansdown, was reported to say:
It’s annoyed the hell out of me that it would appear he [Woodford] has not been truthful with Hargreaves Lansdown. But it’s also annoyed me that they [Hargreaves Lansdown] let it go on so long ... The clients have been stuffed in this horrible Woodford fund. [12]
In October 2022, the company's chief executive Chris Hill announced his departure from the business. [13]
In December 2022, Dan Olley was appointed as the company's chief executive. [14] Upon appointment, Olley ceased his role as a non-executive director on the company's board, which he had been since 2019. [14]
In July 2023, it was announced that the Chair, Deanna Oppenheimer, would be stepping down. Her decision followed criticism from the company’s co-founder Peter Hargreaves over the firm's rising costs and a falling share price. [15]
In August 2024, the company's board agreed to an acquisition by CVC Capital Partners, Nordic Capital and the Abu Dhabi Investment Authority in a deal that valued the business at £5.4 billion. [16] As part of the deal, shares would be valued at £11.40. [3] The company will delist from the London Stock Exchange upon completion of the deal. [3] The deal was backed by founders Peter Hargreaves and Stephen Lansdown. [3] Hargreaves announced he would sell half of his 20 per cent shareholding, rolling over the rest into the future private company. [3] Lansdown intended to sell his full 6 per cent shareholding. [3]
The HL platform enables investors to hold different types of investments together in one place with one valuation and dealing service. Available products include ISA, SIPP, and a Fund & Share dealing account. The company also operates multi-manager unit trusts each of which in turn own a share in a number of underlying funds, as well as its own internally managed equity funds under the HL Select brand. [17] The group also provides financial advisory, stockbroking and annuity broking services to private investors and advice to companies on group pension schemes. The company also offers a currency service, enabling investors to access exchange rates and send money abroad. [18]
Hargreaves Lansdown is UK's largest direct-to-investor investment platform. In August 2024 it had almost 1.9 million customers and oversaw assets worth £155 billion. [16]
The Carlyle Group Inc. is an American multinational private equity, alternative asset management and financial services corporation based in the United States with $426 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index. In the 2024 ranking however, it had slipped to sixth place.
Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number of employees, annual revenue, scale of operations, etc. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing start-ups in the hopes that some of the companies they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. Start-ups are usually based on an innovative technology or business model and they are often from high technology industries, such as information technology (IT), clean technology or biotechnology.
The Vanguard Group, Inc. is an American registered investment advisor founded on May 1, 1975 and based in Malvern, Pennsylvania, with about $9.3 trillion in global assets under management as of May 2024. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares. In addition to mutual funds and ETFs, Vanguard offers brokerage services, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management. Along with BlackRock and State Street, Vanguard is considered to be one of the Big Three index fund managers that play a dominant role in corporate America.
The FTSE 250 Index, also called the FTSE 250, or, informally, the "Footsie 250", is a stock market index that measures the real strength of the economy of the United Kingdom and consists of the 101st to the 350th mid-cap blue chip companies listed on the London Stock Exchange.
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than US$1 trillion in total assets under management, making it the largest alternative investment firm globally.
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in a range of industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care. TPG became a public company in January 2022, trading on the NASDAQ under the ticker symbol “TPG”.
Soros Fund Management, LLC is a privately held American investment management firm. It is currently structured as a family office, but formerly as a hedge fund. The firm was founded in 1970 by George Soros and, in 2010, was reported to be one of the most profitable firms in the hedge fund industry, averaging a 20% annual rate of return over four decades. It is headquartered at 250 West 55th Street in New York. As of 2023, Soros Fund Management, LLC had $25 billion in AUM.
Oaktree Capital Management, Inc. is an American global asset management firm specializing in alternative investment strategies. As of March 31, 2024, the company managed $192 billion for its clientele.
Neil Russell Woodford CBE is a former fund manager and the founding partner of the defunct Woodford Investment Management.
Stephen Philip Lansdown CBE is an English-born Guernsey billionaire. He co-founded the British financial services firm Hargreaves Lansdown with Peter Hargreaves. He is a founder of Bristol Sport and majority shareholder of Bristol Bears, Bristol Flyers, and Bristol City Football Club.
Advent International Corporation is an American global private equity firm focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, growth and strategic restructuring in five core sectors.
Partners Group Holding AG is a Swiss-based global private equity firm with US$149 billion in assets under management in private equity, private infrastructure, private real estate and private debt.
Jupiter Fund Management is a UK fund management group, managing equity and bond investments for private and institutional investors. The company manages assets across a wide range of international and UK based mutual funds, investment companies and institutional mandates, as well as providing wealth management services. The Company offers a variety of equity portfolios specialising in markets such as the UK, Europe, Asia and other emerging European nations, as well as multi-manager funds and specialist thematic investments such as absolute return funds, socially responsible investment funds and global financial funds. It also has a growing fixed interest franchise, with a focus on investing in high grade corporate bonds, strategic bonds and convertibles. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Peter Kendal Hargreaves CBE is an English co-founder with Stephen Lansdown of Hargreaves Lansdown, one of the United Kingdom's largest financial services businesses. He is a shareholder of Hargreaves Lansdown but no longer a director or employee. He is a partner in Blue Whale Capital, an investment boutique that was launched in 2017.
M&G Recovery Fund is a British open-ended investment company launched on 23 May 1969 and, as of 31 May 2012, was the third-largest open-ended fund in the UK with £7.4 billion of assets.
Davidson Kempner Capital Management LP is a global institutional alternative investment management firm with over $36 billion in assets under management. Davidson Kempner is headquartered in New York City, with additional offices in London, Hong Kong, Dublin, Philadelphia, Shenzhen and Mumbai. The firm is led by Anthony A. Yoseloff who serves as Executive Managing Member and Chief Investment Officer.
Christopher Frederick Hill is a British businessman. He was CEO of Hargreaves Lansdown, a financial services company which is a constituent of the FTSE 250 Index.
Abrdn plc, formerly Standard Life Aberdeen plc, is a United Kingdom-based global investment company headquartered in Edinburgh, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Magellan Financial Group is an Australian investment manager focusing on global equities and global listed infrastructure.
Lindsell Train Limited (LTL) is a British investment management company that focuses on managing equity portfolios. The Lindsell Train Investment Trust (LTI) which currently owns 24% of LTL is publicly traded on the London Stock Exchange.
{{cite web}}
: CS1 maint: url-status (link){{cite web}}
: CS1 maint: url-status (link)