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