The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years. It is the kind of deal that says less about price than about positioning for the next cycle. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition.
The combined entity is expected to manage just over four billion dollars when the transaction closes. Insiders say the firm has been quietly building out its alternatives platform since last summer. Compliance staff inside the acquirer have been preparing for the integration since early March. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition.
The detail
Industry observers expect a small wave of follow-on deals from competitors. Compensation for the senior partners is rumored to be tied to a five-year retention schedule. Both sides described the transaction as transformational, but neither would discuss financial terms on the record. The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition.
“Plaintiffs say the dividend math was simply unsupported by the underlying credit book.” Lead complaint, Southern District of NY
Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin. Insiders say the firm has been quietly building out its alternatives platform since last summer. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
What it means for advisors
Compensation for the senior partners is rumored to be tied to a five-year retention schedule. It is the kind of deal that says less about price than about positioning for the next cycle. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Industry observers expect a small wave of follow-on deals from competitors.
- The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Both sides described the transaction as transformational, but neither would discuss financial terms on the record.
- Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition.
- Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. It is the kind of deal that says less about price than about positioning for the next cycle. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin.
