PXN Investments has formally launched following the Financial Conduct Authority’s approval of the merger between Par Equity and Praetura Investments, which comes ahead of confirmed changes to pension and inheritance tax rules.
The newly-formed asset manager will specialise in supporting financial advisers and their clients with tax-efficient and alternative investments, spanning Business Relief (BR)-qualifying investments, EIS and VCT. The launch comes at a key moment for advisers, with the changes that take effect from April 2027 meaning more clients are embracing investment vehicles that open a new route for tax planning.
PXN Investments will form part of PXN Group, which has set itself the target to unlock £1bn in funding for high growth companies across the North of the UK by 2030. To drive this, PXN Group will aim to invest at least £300m into the ecosystem, while leveraging its strong co-investment network to attract around £700m in additional capital from venture capital funds, corporate investors and development banks across the UK, Europe and the US.
PXN Group currently has £700m in assets under management, a portfolio of 115 companies and a team of 58 specialists supported by a further 50 operating partners, with PXN Investments bringing together proven expertise in venture capital, natural capital investments and SME lending under a single, adviser-first umbrella. The merger also builds on strong foundations for Praetura Investments, which has seen its BR-qualifying service grow significantly after a record-breaking period of fundraising and winning best emerging BR Service at the Growth Investor Awards this year.
Jon Prescott, Managing Director at PXN Investments, said:
“In recent years, advisers have had to navigate significant changes in tax policy and regulation, making long-term wealth planning more complex. We know they’re looking for more than just tax wrappers – they want robust and resilient investments that support growth, while also ensuring effective tax planning and portfolio diversification. With PXN Investments, we’re bringing all of that together in one cohesive platform.
“The merger is more than pooling resources – we’re positioning ourselves to scale. We’re combining specialist insight, long-term capital and a deep belief in the UK’s regional potential. For advisers, it means more tailored support and access to best-in-class tax-efficient investments – all from a single, unified group.”
PXN Investments will continue to manage a diversified range of adviser-focused solutions. These include its Praetura Inheritance Tax Planning Service (PITPS), which supports SMEs lending across the UK. Since February 2021, the service has grown in value by almost 25%, supported by an underlying loan book where clients have experienced no net capital losses across £1.5bn in lending.
PXN Group will also manage the Par EIS and Knowledge Intensive Fund programme, which has delivered notable exits including Current Health, DeltaDNA and Symphonic Software since 2012. The platform also manages the Praetura EIS Growth Fund, with investments including AccessPay and Street Group.
Meanwhile the Praetura Growth VCT – one of the UK’s first regionally-focused VCTs – will offer advisers and clients access to scale-up companies across the North and beyond, and is due to re-launch to investors in the coming weeks.
PXN Group will retain its offices in Manchester, Edinburgh, Leeds and London, ensuring continuity for advisers and clients. There will be no changes to regulated entities or existing adviser relationships.
