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Transaction clears path for Fourcore to become a differentiated global financial services firm
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Nobel Sustainability Capital Group to contribute up to $25 million to anchor the new company’s planned capital raise
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“Fourcore” name represents the four pillars of the new company’s approach to providing tailored, multi-generational wealth management solutions powered by AI and other emerging technologies
ATLANTA, August 23, 2024–(BUSINESS WIRE)–Cardea Corporate Holdings Inc. (“Cardea”) today announced that it has acquired select technology and financial assets from Nobel Sustainability Capital Group (“NSCG”), a consortium of global investors led by Peter Nobel and Wu family members and has rebranded as Fourcore Capital (“Fourcore” or the “Company”). In connection with the transaction, NSCG has signed a binding agreement to contribute up to $25 million as an anchor investment in the Company’s planned capital raise.
The Company is led by Jordan Waring, Chairman of the Management Board and Group CEO, Neil Fillary, Group President and International CEO, and Peter Knez, Chairman of Fourcore’s Investment Committee and former co-Chief Investment Officer of BlackRock Fixed Income. Peter Nobel has been appointed Chairman of the Fourcore Board of Directors.
Jordan Waring said: “In partnering with Nobel Sustainability Capital Group, Fourcore will serve global investors with leading asset management solutions powered by cutting-edge AI and other emerging technologies. Fourcore is not only adapting to the future of finance but actively shaping it. We are strategically positioned to grow rapidly, leveraging our acquisitions and innovative technology to expand our market share. This partnership also underscores our deep commitment to sustainability, aligning with the values championed by Peter Nobel and members from the Wu’s family.”
The assets acquired include technology intellectual property (IP) and licensing, as well as investment management funds and entities. The IP and licensing encompass capabilities across blockchain technology, artificial intelligence (AI), digital wallet and tokenization, and they will enable the Company to provide a comprehensive digital wealth and asset management offering. The investment management funds and entities enhance assets under management and fee-paying contracts, which will immediately increase the profitability profile of Fourcore.
The “Fourcore” name reflects the four pillars of the Company’s unique approach to providing AI-enabled, personalized investment strategies and solutions for data analysis and increased asset liquidity:
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Next-Gen Data Analytics: Predictive capabilities built from analyzing vast amounts of data from diverse sources
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Real-World Asset Conversion: Innovations to digitize and tokenize physical assets, enhancing liquidity and tradability
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Wallet Infrastructure: Comprehensive digital wallets that provide seamless, highly available and hyper-secure management of assets and transactions, with interoperable financial services and broader community engagement
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AI-Driven Advisory Systems: Personalized investment recommendations, asset allocation and financial planning for individual client goals and bespoke risk profiles
Neil Fillary said: “This partnership accelerates our growth path, bringing innovative technologies to empower asset managers and advisors with tools for better-informed decision-making on our path to the public markets.”
Peter Nobel said: “The mission of Nobel Sustainability Capital Group is to promote sustainable economic growth that preserves and ultimately enhances the living systems on the planet, create opportunities for people, and harness human ingenuity in support of a prosperous common future. In pursuit of that mission, we are focused on sustainability-related investments globally. We look forward to our partnership with Fourcore and in making a greater impact in sustainable investing to further our goal of improving the planet.”
Peter Knez said: “The alternative asset management industry stands at a pivotal inflection point. We are creating a financial services powerhouse equipped with a proprietary AI platform that will meet the complex, evolving needs of investors—from generation to generation—and revolutionize how we approach alternative assets.”
In preparation for this transaction and the Company’s next capital raise, the Board of Directors of Cardea Group has received a valuation report, dated August 14, 2024, from independent advisory firm Frost & Sullivan that estimates Fourcore to have an enterprise value of more than $5 billion.
More information about the Company’s management team, Board and brand will be announced in the coming months.
About Fourcore
Fourcore is an emerging leader in global asset, wealth and investment management committed to delivering innovative solutions and exceptional value to its clients. With a strong focus on growth and operational excellence through open architecture and disciplined investment portfolios, Fourcore develops tailored strategies to match the ambitions and needs of each of its advisors and clients. For more information, visit www.fourcorecapital.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240821124010/en/
Contacts
Media:
Prosek Partners
Kiki O’Keeffe / Julia Sidi
Pro-Fourcore@prosek.com
