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Transactions

Cambridge is a market-leading specialist investment bank, having provided M&A advisory services to the investment management industry for over 30 years. While based in New York, a significant portion of our business is derived from cross-border or foreign transactions, a testament to our global relationships. Selected transactions include:

Advised London-based iM Square on its first ever acquisition of a 20% equity stake in Polen Capital Management, a growth equity manager with $7.5 billion in assets under management based in Boca Raton, FL.  iM Square is a global investment and development platform that partners with asset management firms to accelerate growth through international distribution.  The shareholders of iM Square include Amundi, Eurazeo and La Maison.  As part of the transaction, Polen Capital’s employees increased their ownership from 51% to 60%. 

Advised Paris-based La Francaise, an international multi-class asset manager with EUR 48 billion under management, on a strategic partnership with Alger Management, Ltd., an affiliate of Fred Alger Management, Inc., a New York based asset management firm with $22 billion under management.  La Francaise will take a 49.9% interest in Alger Management, Ltd. and will provide distribution capabilities and acceleration capital, while Fred Alger Management, Inc. will contribute its expertise in growth equities.

Advised Westwood Holdings Group on its acquisition of Houston-based Woodway Financial Advisors.  The $1.6 billion private wealth and trust company will operate as a Houston branch of Westwood Trust, a wholly owned subsidiary of Westwood.  The transaction will establish a presence for Westwood in the fast-growing Houston market, a priority of the company for many years, and will allow Woodway to provide its clients with an even more robust suite of services over time.

Advised MBIA and Cutwater on the sale of Armonk, NY-based Cutwater to BNY Mellon Investment Management.  Cutwater, a $23 billion AUM fixed income specialist, will work closely with, and be administered by, London-based Insight Investment, a BNY Mellon subsidiary.  The addition of Cutwater will enhance BNY Mellon's and Insight's U.S. platform abilities to offer specialized fixed income solutions.

Advised Chicago-based Segall Bryant & Hamill on the sale of an interest to private equity firm, Thoma Bravo.  As part of the transaction, Segall Bryant, which has over $9 billion in assets under management, will create an equity incentive program intended to expand ownership among the firm’s investment professionals.  The deal will allow Segall Bryant to close its long-standing relationship with Dougherty Financial Group.  

Advised Union Bank on its sale of Morton Capital Management in Calabasas, California, to its founder, Lon Morton, and the firm's investment professionals.  With over $1.2 billion in assets under management, Morton Capital provides wealth management services to a primarily high net worth client base.  Union Bank had inherited the business with its December 2012 purchase of Pacific Capital Bancorp.

Advised Union Bank on its sale of R.E. Wacker Associates in San Luis Obispo, California, to its founder, Bob Wacker, and the firm's investment professionals.  With over $650 million in assets under management, R.E. Wacker provides wealth management services to a primarily high net worth client base.  Union Bank had inherited the business with its December 2012 purchase of Pacific Capital Bancorp.

Advised Durham, NC-based Smith Breeden Associates on its sale to Paris-based Amundi, a leading European asset management firm.  With $6.4 billion in assets under management, Smith Breeden is an institutional asset management firm specializing in the major US fixed income sectors.  The relationship with Amundi will provide Smith Breeden with access to Amundi’s worldwide institutional client base as well as its global investment, research, client servicing and operating resources.  Amundi gains asset management expertise in US fixed income, which it will offer to its institutional and corporate clients in Europe, Asia and the Middle East.

Advised Nationwide Financial on the acquisition of 17 equity and bond mutual funds with a combined AUM of approximately $3.6 billion from HighMark Capital Management, Inc.  The deal will enable Nationwide to offer a wider array of investment offerings to financial advisors and their clients.  It will also refine HighMark’s strategy and allow the company to focus on growing its core business of providing asset management services to institutional and high net worth clients.  HighMark will become the subadvisor for the successors to the nine funds that it currently manages, and Nationwide will retain the existing subadvisory agreements on the other eight funds.  HighMark is a wholly-owned subsidiary of Union Bank, N.A.

Advised New York City-based Reich & Tang Asset Management, LLC on the acquisition of five money market funds with a combined AUM of over $4.0 billion from HighMark Capital Management, Inc.  The acquisition will provide HighMark Fund shareholders with immediate cost benefits and integration into a highly stable, diversified client base as well as access to one of the industry’s longest-tenured and time tested mutual fund advisors.  The acquisition is consistent with Reich & Tang’s strategic growth plans, adding to the company’s already diversified money market mutual fund offerings.  Reich & Tang is a subsidiary of Natixis Global Asset Management, S.A., while HighMark is wholly-owned by Union Bank, N.A.

Advised Madison, NJ-based Brinton Eaton Associates on the sale of a majority interest to Leawood, KS-based Mariner Wealth Advisors. With approximately $700 million of assets under management, Brinton Eaton gains additional support and resources from Mariner, allowing its existing advisors to devote more time to managing client relationships. The addition of 13 professionals is in line with Mariner’s plan to expand its national footprint. Concurrent with this transaction, Montage Investments, another Mariner Holdings affiliate, has added Brinton Eaton’s mutual fund, The Giralda Fund, to its suite of mutual funds.

Initiated Mariner Wealth Advisors’ acquisition of RiverPoint Capital Management, a $1.3 billion wealth manager located in Cincinnati, OH. The transaction will add 17 wealth management professionals, including eight advisors, to Mariner’s network – in line with Mariner’s goal to build a nationwide team of advisors to support its clients throughout the country. RiverPoint will maintain its name and service philosophy.

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