Total comes back for more from Adnoc, Adia takes a slice of Tunisia’s Vermeg, Hoxton Wealth secures outside investment

TotalEnergies comes back for more Adnoc LNG

Adnoc Gas will supply TotalEnergies with up to 1.6 mn tons of LNG under a five-year agreement (pdf), extending a partnership that ran under an earlier USD 1-1.2 bn, three-year contract between 2023 and 2025. Adnoc Gas didn’t put a value on the new agreement or clarify where the supply will come from.

REMEMBER- The agreement lands four months after Adnoc pulled its LNG marketing under one roof, combining the Adnoc Gas and XRG marketing teams with Adnoc Trading’s desk. The platform is targeting 47 mtpa of marketable LNG by 2035, with Ruwais LNG’s two 4.8 mtpa trains providing part of that supply. Adnoc Gas didn’t say whether the TotalEnergies contract went through the new platform.

Adia takes a slice of Tunisia’s Vermeg

The Abu Dhabi Investment Authority (Adia) is taking a minority stake in Tunisian-founded financial software group Vermeg as part of US private equity firm Advent’s acquisition of the company, according to a statement. Advent is acquiring the stakes held by UK investor Charterhouse Capital Partners and founder Badreddine Ouali, who will keep a stake and stay on as vice chairman. The size and value of the stake were not disclosed.

Vermeg? The firm makes post-trade processing and collateral management software for central banks, clearing houses, central securities depositories, custodians, and buy- and sell-side firms, plus life and health ins. Policy administration systems, mainly for insurers in France and the Benelux. The acquisition is expected to close in 1H 2027.

ALSO- Adia wrote a USD 2 bn ticket for Ardian’s record secondaries raise: Adia committed USD 2 bn of the USD 30 bn Ardian raised last year for the largest-ever secondaries platform, along with rights to make additional co-investments. That’s one of the largest commitments of its kind on record, Bloomberg reports, citing people it says are familiar with the matter. Adia and Ardian declined to comment.

REMEMBER- An Adia subsidiary partnered with Ardian in March on a new real estate secondaries platform. The sovereign wealth fund has also been building its exposure to follow-on transactions: it anchored a USD 770 mn continuation vehicle for CDH Investments’ flagship fund in January.

Hoxton Wealth secures minority investment

London- and Dubai-based Hoxton Wealth has taken its first outside money, receiving a USD 135 mn minority investment from Aspirity Partners, according to a statement. Hoxton, founded in 2018, advises about 10k clients across 10 jurisdictions and manages more than USD 5 bn in assets. The fresh capital will fund further international expansion, adviser hiring, and select acquisitions. Founder and CEO Chris Ball says the firm already has acquisition prospects lined up. The transaction still needs customary regulatory approvals.

Why it matters: Hoxton advises internationally mobile clients with cross-border wealth, the expat money Dubai is built on. Aspirity puts that market at about USD 1.2 tn in assets, with only 25% of it currently advised.

ADVISORS- Continuum Advisory Partners was Hoxton Wealth’s financial advisor, while Proskauer served as counsel. Ardea Partners acted as Aspirity’s financial advisor, with Dechert as counsel and Oliver Wyman as commercial due diligence advisor.