Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Compliance staff inside the acquirer have been preparing for the integration since early March. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years.
Compliance staff inside the acquirer have been preparing for the integration since early March. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM.
The detail
Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. Compensation for the senior partners is rumored to be tied to a five-year retention schedule. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Compliance staff inside the acquirer have been preparing for the integration since early March.
“The institutional money is rotating, but it is doing so quietly.” Real estate fund manager
Insiders say the firm has been quietly building out its alternatives platform since last summer. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. The combined entity is expected to manage just over four billion dollars when the transaction closes. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence.
What it means for advisors
The combined entity is expected to manage just over four billion dollars when the transaction closes. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
- Compensation for the senior partners is rumored to be tied to a five-year retention schedule. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM.
- Compensation for the senior partners is rumored to be tied to a five-year retention schedule. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
- The combined entity is expected to manage just over four billion dollars when the transaction closes. Compensation for the senior partners is rumored to be tied to a five-year retention schedule.
Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. Industry observers expect a small wave of follow-on deals from competitors. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. Both sides described the transaction as transformational, but neither would discuss financial terms on the record.
