Transactions

Cambridge is a market-leading specialist investment bank, having provided M&A advisory services to the investment management industry for over 20 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. The following includes some of our recent transactions.

Advised Milwaukee-based Northern Oak Wealth Management on its sale to Chicago-based First Midwest Bancorp. With approximately $800 million of assets under management, Northern Oak is an independent wealth management firm focused on high net worth clients. The transaction gives Northern Oak and its clients access to the broad range of wealth management and banking products and services offered by First Midwest. Northern Oak's leadership will remain intact.

Advised Cincinnati-based Fifth Third Bancorp on its acquisition of Franklin Street Partners.  With $2.2 billion in assets under management, Franklin Street Partners is a Chapel Hill-based wealth management and trust company focused on high net worth clients.  The business will continue to operate under the Franklin Street brand and will remain in its current office.  This transaction supports Fifth Third’s goal to strategically grow its wealth management business and build on its existing presence in North Carolina.

Advised Laguna Beach-based WCM Investment Management on the sale of a 24.9% stake to Paris- and Boston-based Natixis Investment Managers. With $29 billion of assets under management, WCM manages low-turnover, alpha-generating equity portfolios with a focused, global growth approach. WCM will retain its independence and autonomy over the management of its business and has entered into a global distribution partnership with Natixis. The addition of WCM to Natixis’ global multi-affiliate program will give Natixis clients access to another high-active share investment manager with a distinctive investment culture and process.

Advised Cincinnati-based Bartlett & Co. on its sale to New York-based Focus Financial Partners.  In conjunction with the closing of the transaction, Bartlett, with over $3.5 billion of high net worth assets under management, will rebrand to Bartlett Wealth Management, LLC and expand its leadership team from 11 to 17 to include members of its next generation.  This acquisition marks Focus’ first partner firm on Ohio.

Advised Salt Lake City-based Alta Capital Management on a 70% sale to Toronto-based Guardian Capital Group.  The transaction will add over $3bn to Guardian’s assets under management and Alta will benefit from the support of Guardian’s significant financial and operational resources.  The partnership will expand Guardian’s presence and distribution network in the United States and diversify the firm’s assets under management by geography and investment solutions.

Advised Chicago-based Geneva Advisors on its sale to CIBC. With $8.4 billion in assets under management, Geneva Advisors is an independent private wealth management firm focused on high net worth clients. On closing, Geneva Advisors will become part of CIBC Atlantic Trust Private Wealth Management and will add scale in key markets where the combined firms can offer clients differentiated, high-touch service. 

Advised Illinois-based First Midwest Bancorp on its acquisition of Premier Asset Management, a $550 million private client manager in Chicago.  The transaction allows First Midwest to expand the breadth of its offerings to meet the financial and service needs of its high net worth clients, while Premier's clients will have access to a broader range of products and services provided by one of the largest independent publicly-traded bank holding companies.  

Advised Minneapolis-based Arbor Capital Management on the sale of its growth team to Foundry Partners. With approximately $200 million in assets under management, Arbor manages small cap growth and international small cap growth strategies on behalf of institutional and family trust clients. The Arbor team will operate out of Foundry Partners’ Minneapolis office, and the combined firm will have nearly $2.1 billion in assets under management along with approximately $630 million in Advisory-only UMA assets.

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.

Advised Minneapolis-based Riverbridge Partners on the sale of approximately 58% of the firm’s equity to London-based Northill Capital. With $4.0 billion of assets under management, Riverbridge manages small-, mid- and large-cap US equity growth portfolios on behalf of institutional and high net worth clients. The transaction with Northill will provide a succession plan for Riverbridge’s management team while allowing the firm to remain employee-owned and broaden its equity ownership to the next generation. The transaction is in line with Northill’s stated strategy to build a diversified portfolio of high quality investment businesses.

Advised Cincinnati-based Fifth Third Bancorp on the sale of its money market funds to Federated Investors, one of the nation’s largest investment managers. The sale of the four funds, which had approximately $5 billion of assets under management, creates a relationship between the two institutions and provides the Bank with an opportunity to offer a broader choice of investment products. The transaction helps bolster Federated’s status as a leading provider of money market funds.

Advised Cincinnati-based Fifth Third Bancorp on the sale of 16 mutual funds to Touchstone Advisors, a wholly-owned subsidiary of Western & Southern Financial Group. The sale will allow Fifth Third Asset Management to focus on its core capabilities of providing institutionally managed active asset management strategies. The transaction will increase Touchstone’s assets under management to $13 billion and create new sub-advisory relationships with the Bank.

Advised Talon Asset Management, a premier Chicago-based private client manager, on the sale of its hedge fund and private equity businesses, which have over $300 million in combined AUM, to the respective management teams. Earlier in the month, Talon sold its wealth management business, which did not include these funds, to BNY Mellon Wealth Management.

Advised Talon Asset Management, a premier Chicago-based private client manager, on the sale of its wealth management operations with over $800 million in assets under management to BNY Mellon Wealth Management. Talon’s partnership with BNY Mellon, a global leader in investment management and investment services, provides its clients with broader global asset management, private banking and wealth planning services in addition to expanded access to alternative investment opportunities. The transaction provides BNY Mellon Wealth Management increased access to the nation’s third largest wealth market, fulfilling part of its national and global expansion strategy.

As part of Ashmore’s acquisition of a majority interest in Emerging Markets Management, L.L.C. (“EMM”), Amundi Asset Management has sold its 11.5% interest in EMM. With approximately $10.4 billion of institutional assets under management and a history dating back to 1987, EMM has established a reputation as one of the world’s leading managers of emerging markets equities. The acquisition fulfills Ashmore’s stated goal of expanding its product offering and also further diversifies its client base by both geography and client type. Amundi successfully exits an investment made by Crédit Agricole in 1996.

Advised Westwood Holdings Group on its acquisition of McCarthy Group Advisors, a leading wealth manager in the Omaha market with over $1.0bn in private wealth and institutional client assets at June 30, 2010. In addition to Westwood’s stated goal of acquiring fold-in mutual funds, the acquisition expands the platform of Westwood Trust, a wholly-owned subsidiary of Westwood Holdings, into new geographies. The transaction will provide McCarthy clients with access to a larger selection of investment opportunities.

Advised Aviva Investors North America on its acquisition of River Road Asset Management, a value-oriented US equity manager with $3.6bn of assets as of November 30, 2009. The acquisition of the Louisville, KY-based company fulfills Aviva’s strategic objective of adding US equities to its established fixed income capabilities and accelerates its drive into the US institutional marketplace while providing River Road with global distribution benefits. River Road serves domestic and international clients through institutional separate accounts and mutual fund sub-advisory contracts. Its management team and the autonomy and integrity of its investment process will remain intact.

Advised Fortis Investment Management USA, Inc. on the sale to management of its 75% equity interest in Cadogan Management, LLC. New York-based Cadogan manages $3.6 billion in multi-manager hedge fund assets for institutions and high net worth individuals.

Advised Mead, Adam & Co. on its sale to Johnson Investment Counsel, Ohio’s largest independent wealth management firm. Mead, Adam & Co., headquartered in Dayton, Ohio, manages balanced portfolios on a discretionary basis for individuals, trusts, pension and profit sharing plans, charitable organizations, foundations, endowments and corporations. Mead, Adam & Co. currently manages $350 million in clients assets. The transaction will provide Mead Adam & Co.'s clients with a broader array of investment products and wealth management solutions.

As part of its program to divest certain former ABN AMRO investment management affiliates in the US, Fortis has sold its 50% stake in Veredus to the firm's management team.

Sun Life Financial has sold its 37.6% interest in CI Financial Income Fund to Scotiabank for a total consideration of C$2.3 billion. While Sun Life frees up capital and gains additional flexibility to pursue growth opportunities, its successful distribution relationship with CI will continue. Scotiabank expands its footprint in Canada’s mutual fund industry, and CI gains further access to this important distribution partner.

Advised Winslow Capital Management on its sale to Nuveen Investments. Winslow currently manages more than $4bn of domestic large cap growth equities for institutions and high net worth investors. The Minneapolis-based firm has enjoyed a period of strong growth due, in part, to its superior investment performance. Winslow's investment team will continue to operate independently, as a boutique affiliate, but Nuveen will support the firm's operations and leverage Winslow's product across its distribution network.

Advised Wentworth, Hauser and Violich, Inc. in connection with establishing a joint venture with Hirayama Investments, LLC, a newly formed SEC registered investment adviser. As part of the joint venture, Hirayama Investments has entered into a long-term sub-advisory agreement to provide international and global equity to WHV clients. The International Equity Portfolio has consistently outperformed both its peers and the MSCI EAFE index and is ranked in the 1st percentile for the last 1, 3, 5 and 10 year periods ending June 30, 2008 in the PSN EAFE Universe database.

Advised Lakepoint Investment Partners on its sale to Northern Trust Bank, a leading provider of wealth management solutions. Lakepoint Investment Partners, based in Cleveland, Ohio, provides money management to individuals, corporations, ERISA, trust, and foundations and endowments. Lakepoint currently manages over $580 million in clients assets. The transaction will provide Lakepoint's clients with a broader array of investment products and wealth management solutions.

Advised Mercer Advisors on its sale of a majority stake to Lovell Minnick Partners, a private equity firm focused on the financial services industry. Mercer is the leading provider of financial planning, asset management, and practice management consulting services to dental and medical professionals. Mercer manages over $3.6 billion of client assets and provides consulting services to over 3,000 dental practitioners from its satellite offices across the US. This transaction will provide Mercer with the capital needed to expand its market share and to develop its client service offerings.

Advised Sanders Morris Harris Group Inc. (SMHG) on its acquisition of a majority interest in Leonetti & Associates, Inc. Located in Buffalo Grove, a Chicago suburb, Leonetti & Associates is an independent wealth-manager with approximately $400 million under management. The transaction deepens SMHG’s penetration in the Midwest and will provide Leonetti & Associates with access to SMHG’s array of wealth management products and services.

Advised Stratton Holding Company Inc. on its sale to Susquehanna Bancshares, Inc. Stratton is a value equity investment advisor that manages $3 billion in assets for high net worth, mutual fund, and institutional clients. The company operates through its wholly-owned subsidiaries, Stratton Management Company and Semper Trust Company. With the completion of this transaction, Susquehanna's wealth management group will gain access to Stratton's investment expertise while Stratton will receive Susquehanna's operational support as well as new banking products for high net worth clients.

Advised Fairport Asset Management, LLC on its sale of a majority stake to WealthTrust, LLC. Located in Cleveland, Fairport manages $1 billion in high net worth client assets making it one of the largest independent wealth managers in Northeastern Ohio. The transaction facilitates Fairport's succession planning thereby allowing the firm to continue to serve its clients without disruption.

Advised Gresham Partners LLC on an investment by Asset Management Finance which was initiated by Cambridge. Gresham is a leading private wealth manager based in Chicago with over $2.7 billion in high net worth client assets under management. The investment by AMF is part of the Gresham’s plan to continue deepening firm ownership by its principals while remaining fully independent.

Retained jointly by Kochis Fitz and Quintile Wealth Management to provide valuation and financial advice in connection with the merger of these two complementary firms. The combined firm, Aspiriant, will be the largest independent wealth management firm in California, managing or advising on more than $5 billion in client assets with a team of nearly 50 professionals located in Los Angeles and San Francisco.

Advised Pacific Capital on its acquisition of R. E. Wacker Inc., a wealth advisory firm based in San Luis Obispo, California, managing in excess of $475 million in assets. This follows last year’s successful acquisition of Morton Capital by the Bank.

Advised Meeschaert Corporation on the acquisition of a minority stake and strategic alliance with The Solaris Group, a multi-family office located in New York with $1.8 billion under management. The transaction promotes technology collaboration as well as cross-selling between the two organizations. Meeschaert Corporation is a subsidiary of a third-generation independent French private bank.

Arranged a senior term loan for Lateef Investment Management in connection with recycling the equity of a retiring partner.

Advised Sentinel Asset Management on the acquisition of the Synovus Funds, with $475 million under management. The four mutual funds will be reorganized into the Sentinel Funds and the parties plan to collaborate on future product development and distribution.

Co-advised Lydian Trust Company on the sale and recapitalization of Lydian Wealth Management by City National Corporation and its subsidiary, Convergent Capital Management. Lydian Wealth Management, an ultra-affluent wealth management consultant, will operate as Convergent Wealth Advisors. The firm manages or advises on client assets totaling $7.3 billion.

Advised RegentAtlantic Capital LLC on an equity recycling and succession plan that included sale of a minority interest to Fiduciary Network LLC, a subsidiary of Emigrant Bank. RegentAtlantic, a fast-growing wealth advisory firm with over $1.5 billion under management, can now retain its independence even as founding partners retire and are monetized.

Co-advised WealthTrust on its sale to and recapitalization by private equity firm, Circle Peak Capital LLC. WealthTrust holds ownership interests in ten investment counseling affiliates that collectively manage more than $6.5 billion in assets.

Advised Churchill Financial on its acquisition of $3.5 billion CDO manager, Centre Pacific LLC. Renamed Churchill Pacific, the firm has become Churchill Financial's platform for growth in the fixed income asset management sector.

Advised Walter Scott & Partners on its sale to Mellon Financial Corporation. Walter Scott & Partners is a fast growing $27 billion manager of global and international equities, based in Edinburgh. It retains its autonomy within Mellon Asset Management and contributes to Mellon's expanding asset management business outside the United States, as well as to Mellon's product depth in non-U.S. investment strategies.

Advised Cundill Investment Research and affiliates on the sale of their assets to Mackenzie Financial, a subsidiary of IGM Financial. Peter Cundill and his team, all of whom have entered into long-term arrangements with Mackenzie, manage approximately $16 billion of global value equities. $12.5 billion of these assets are managed for Mackenzie in a range of retail mutual funds, the balance for high-net-worth and institutional clients including the Waddell & Reed "Ivy Cundill Value Fund."

Initiated an investment by Asset Management Finance in Newgate Capital Management. Newgate manages $2.6 billion primarily for institutional investors in three portfolio options: emerging markets equities, global resources equities and global fixed income.

Advised Reber/Russell Company on its sale to First Western Trust Bank.

RRC managed approximately $500 million for high-net-worth individuals in Denver, Boulder and Los Angeles.

Advised Pacific Capital Bancorp on its acquisition of Morton Capital Management, a wealth advisory firm based in Calabasas, California, managing $800 million in assets. The partnership with MCM allows PCB to offer open architecture investment solutions to its high-net-worth clients.

Advised fund administrator Hedge Funds Services (BVI) Ltd. on its sale to Fortis Prime Fund Solutions. HFS' platform and $2.4 billion in assets under administration afford Fortis an immediate dominant market position in funds administration in the British Virgin Islands, a key financial center in the Caribbean.

Advised Mellon Financial Corporation on its acquisition of City Capital, an Atlanta-based firm managing more than $800 million for high-net-worth individuals and institutions. City Capital became part of Mellon's Private Wealth Management's rapidly expanding Atlanta business. Cambridge initiated the transaction.

Advised management of Reed, Conner & Birdwell, LLC on the restructuring of its relationship with parent, City National. Among the changes agreed, management now have the right to appoint a majority of the Management Board. RCB has $3.8 billion of assets under management and is based in Los Angeles.

Advised Tanager Financial Services Inc., a multifamily office in Waltham, MA, with $2 billion in assets on its sale to Wachovia. Tanager's clients gained access to Wachovia's banking and fiduciary services while Wachovia Wealth Management and Calibre (the group's family office) extended their footprint into the New England market.

Advised Sun Life Financial on the sale of its Canadian real estate management and leasing business to Bentall Capital, one of Canada's leading real estate advisory and services firms.

Advised Highland Capital Management on its acquisition of the Bank Loan Asset Management business of Columbia Management Advisors, a subsidiary of Bank of America. BLAM’s $2.7 billion in assets under management extended Highland's leadership position in leveraged loans into the retail market.

Advised AMVESCAP on its acquisition of Stein Roe Investment Counsel. The acquisition of SRIC, with $7.3 billion in assets under management, nearly doubled the size of AMVESCAP’s private wealth management division, Atlantic Wealth Management Group, and created a national footprint with 13 offices throughout the United States.

Advised Bingham, Osborn & Scarborough, a San Francisco-based wealth management firm, on its strategic alliance with Boston Private Financial Holdings. BOS, with $800 million under management, is expected to sell 70% of the firm over a five-year period to Boston Private, enabling management to transition to the next generation.

Provided strategic advice and valuation services for a major institutional emerging markets specialist, including an analysis of shareholder entitlement under various incentives programs.

Advised Benson Associates, a small cap value manager in Portland, Oregon, on its sale to Wells Fargo. Benson, managing $1.3 billion of assets for institutional clients, operates as the Benson small cap value team of Wells Capital.

Advised Mizuho Corporate Bank (USA) on the sale of its interest in Atlantic Asset Management to Putnam Lovell Equity Partners. Stamford-based Atlantic and its affiliates managed over $9 billion of assets, primarily for institutional clients, in a variety of fixed income strategies, including investment grade bonds, high yield bonds, CDOs, and mortgage arbitrage hedge funds.

Completed valuation of a $6 billion institutional investment manager and provided expert testimony in subsequent arbitration proceedings.

Advised Mizuho Corporate Bank (USA) on its sale of Whitehall Asset Management. WAM, a manager of $1.5 billion in private client and trust accounts was sold to Atlantic Trust Company, the private wealth management arm of AMVESCAP.

Advised Nelson Capital Management, a private client manager in Palo Alto, California, on its sale to Wells Fargo. Nelson, which had approximately $700 million of assets under management, is able to offer a much broader array of trust, investment and banking services to its clients.

Advised GLOBALT, a growth equity manager in Atlanta, on its sale for stock to Synovus Financial Corp. in Columbus, Georgia. GLOBALT managed $1.5 billion for institutions and private clients and became a cornerstone of Synovus' investment management growth strategy. The transaction value includes a significant earn-out component.

Advised Starbuck, Tisdale & Associates on its sale to First Republic Bank. Starbuck Tisdale, a Santa Barbara-based private client manager with $1 billion under management, is offering its wealth management services to the Bank's clients while continuing to operate autonomously. The structure of the transaction enables Starbuck Tisdale's principals to participate in future increases in firm value.

Advised Sun Life Financial on the sale of its UK investment management subsidiary, SLC Asset Management, to Credit Suisse Asset Management. SLCAM, managing £11 billion of institutional, retail and insurance funds, had a broad range of equity, fixed income and real estate investment capabilities. The acquisition substantially increased CSAM's client base and investment platform in the United Kingdom. Cambridge initiated the transaction.

Advised Atlanta Capital Management on its 70% sale to Eaton Vance Corporation. ACM managed $6.4 billion of assets for institutional clients, primarily in growth equities. Eaton Vance increased its penetration of the US institutional market, acquiring excellent equity and fixed income products, while ACM gained significant distribution in the mutual fund and wrap markets. ACM operates independently with the option of selling the remaining 30% to Eaton Vance in the future.

Advised Reed, Conner & Birdwell on its sale to City National Corporation. RCB had an attractive high-net-worth and institutional franchise with $1.1 billion in assets under management. City National gained a seasoned high-net-worth and value manager to fill the investment needs of its clients. RCB continues to operate independently. Its older principals gained current liquidity while others participated in the value created by the firm's enhanced growth prospects.

Advised Greenwich Associates on the acquisition of this Canadian market research firm. Greenwich will leverage the skills of Consumer Contact into its U.S. and Canadian banking research programs.

Advised Bessemer Trust on the acquisition of a 25% interest in Glynn Capital Management, a Silicon Valley-based emerging growth manager with a high-net-worth client base. Bessemer also opened a representative office in Menlo Park, California, in conjunction with this relationship.

Advised Bessemer Trust on the acquisition of Brundage Story & Rose’s private client and institutional equity groups, with $4.5 billion under management. Based in New York, BSR was one of the oldest firms in the private wealth management business and adds approximately 800 clients and a team of seasoned professionals to Bessemer's existing business.

Initiated and advised Optima Fund Management on the formation of a strategic alliance with Mellon Private Asset Management. Optima is a leading hedge fund management group, offering more than 20 multi-adviser and single-adviser domestic and offshore funds. Its distribution agreement with MPAM contains exclusivity provisions in the United States. MPAM subsequently acquired a minority interest.

Advised IBJ Whitehall on its acquisition of a 50% interest in Butler Chapman. The two firms share a similar focus on client base and plan to offer a "one-stop" service to middle market companies.

Advised IBJ Whitehall on its acquisition of a 50% interest in Atlantic Asset Management Partners, a Stamford, CT-based manager of over $4 billion in fixed income and high-yield portfolios for institutions.

Completed a strategic review for a publicly-traded US mutual fund group. Provided strategic recommendations with respect to marketing and distribution (including internet initiatives), investment products and their manufacture, and back office and fund administration.

Advised First Republic Bancorp in connection with its two-stage acquisition of Trainer, Wortham & Co., a leading New York-based private client manager.

Advised Peter Cundill & Associates on the sale of its mutual fund business to Mackenzie Financial, combined with an exclusive North American joint venture to market Cundill-branded mutual funds to North American retail investors.

For a leading North American insurance and investment management group, prepared a detailed study (based on proprietary research) of the organization, evolution and strategic direction of the investment management activities of 14 major global insurance groups.

Initiated the sale of a minority interest in International Finance and Development Corporation to Asset Management Investment Company, a UK investment trust. IFDC is a Paris-based specialist international equity and mutual fund manager.

Advised American Express on its Kenwood Partners joint venture, a manager of quantitative small-cap equities, in a transaction initiated by Cambridge.

Initiated and completed the sale of Solon Asset Management to Turner Investment Partners. Solon was a California-based fixed income manager.

Advised SLC Asset Management on the acquisition of Langbourn Property Investment Services. This transaction was preceded by a strategic review of the UK property manager market for SLCAM, Sun Life Financial’s UK asset management subsidiary.

Advised Sun Life Financial on the acquisition of a 60% interest in McLean Budden Limited, then a $6 billion Canadian institutional manager majority-owned by Gartmore, and the merger of Sun Life’s institutional investment management subsidiary, SUNIMCO, into McLean Budden.

Advised AMI Partners, on the sale of its Quantitative Capital and Private Capital divisions to Toronto Dominion Bank, which also acquired a 30% interest in the remaining institutional investment counsel. The transaction also involved the redemption of MetLife’s convertible debt. AMI and affiliates managed C$10 billion for Canadian high-net-worth and institutional clients.

Advised AMI Partners on the sale to Robert and Jardine Fleming of AMI’s 50% interest in Fleming Canada Partners. FCP was then the leading Canadian manager of international equities for institutional clients.

Initiated and completed for Chase Manhattan Bank the acquisition of a majority interest in M.D. Sass Investors Services' short- and intermediate-term fixed income business, through a newly formed partnership, which grew to $17 billion under management. The transaction was preceded by strategic consultancy assignments with Chase.