The Capital International Group is set to expand after it announced the acquisition of Jersey-based asset management firm APW Investors Limited (APWIL), the investment division of Affinity Private Wealth.

The deal marks an expansion of the Isle of Man-based group’s presence in Jersey, following its initial entry into the island’s market in 2024.

Capital International Group is a privately owned financial services provider offering asset management, investment platforms, and corporate banking to clients across the Isle of Man, Jersey, and South Africa.

A spokesperson for the group said the acquisition remains subject to regulatory approval in Jersey.

APWIL specialises in responsible and sustainable investing and offers a range of services including discretionary investment management, investment oversight and advisory, model portfolio services, and execution-only services.

Capital International said the move would enhance its client offering and increase access to the Affinity Better World Growth Fund, a fund currently advised and distributed by APWIL.

Antony Kelsey, head of asset management at Capital International, said: ‘This acquisition represents another significant milestone in our growth journey and greatly consolidates our initial Jersey presence.

‘We are looking forward to working with Ben, Russell, Jon and the wider APWIL team to drive strong growth and performance from Jersey.’

Ben Stott, managing director of APWIL, said the deal would allow the team to expand its client offering and benefit from access to Capital International’s technology.

‘From our initial interactions with their leadership team, it was obvious that we share a belief in exceptional client delivery, alongside innovative investment solutions,’ he said.

‘It is exciting to expand our offering for our existing and future clients.’

Capital International Group chairman Anthony Long said APWIL had been ‘on our radar’ due to its reputation in investment management and sustainability.

David Stearn, chief executive of Affinity Private Wealth, said the decision to part with the investment team was not taken lightly.

‘When we formed Affinity in 2011, we did so as two businesses with one common aim and focus,’ he said. ‘This is however an incredibly exciting opportunity for the investment team to continue to build and enhance their existing offering with scale.

‘We are delighted to see the investment business pass to great new owners who have a very similar culture and value set, and we have no doubt the team will flourish at Capital International.’

APWIL is regulated by the Jersey Financial Services Commission.

Meanwhile, Capital International’s regulated entities are based in the Isle of Man, Jersey and South Africa.

The group is privately owned and operates primarily in asset management, investment platforms, and corporate banking.

It manages around $5 billion in client assets and employs more than 240 people across the world.

The latest acquisition isn’t the first in the Channel Islands by the Capital group.

Last year, Capital announced that it had struck a deal to acquire fellow Jersey-based Martello Asset Management Limited.

A spokesperson for the group said at the time that the move represented a ‘significant milestone’ in Capital’s growth journey.