Transactions

We have completed over 100 transactions with an aggregate transaction value approaching $4 billion with a variety of investment management firms, including mergers, acquisitions, divestitures and management buy-outs.

We also have extensive experience in structuring and restructuring the ownership and governance of investment management organizations, including the development and execution of plans that provide equity and other incentives to key professionals.

Below is a sampling of some of our recent engagements.

(NOTE: This is not a full list. It is common for buyers or sellers to request confidentiality.)

Date
Target/Seller
Acquirer/Investor
Description of Transaction
May 2017
VennWell
RMB Capital Management
Advised VennWell on the sale of the firm to RMB Capital Management. VennWell is a registered investment advisory firm based in Lake Forest, IL. VennWell provides financial planning and investment management services to individuals, families and organizations.
May 2017
Boston Partners Global Investors, Inc.
Advised management of Boston Partners Global Investors on the internal governance and financial arrangement with its parent company. At the time of the assignment, Boston Partners Global Investors managed more than $90 billion across a wide range of domestic and global value equity and alternative strategies for a diverse client base of institutional and individual investors.
Mar 2017
Legg Mason
Glouston Capital Partners
Advised the management team of Glouston Capital Partners on Legg Mason's sale of the firm to management. Glouston is a private equity secondaries and primary fund-of-funds investment specialist with over 20 years of dedicated experience and approximately $2.4 billion in committed capital as of December 31, 2016.
Mar 2017
Century Capital Management
Congress Asset Management
Advised Century Capital Management on the sale of the firm to Congress Asset Management, including the proposed reorganization of their two mutual funds (CENSX) (CSMVX) into the Congress Asset Management family of funds. Century Capital Management, a Boston based firm, manages $670 million of equity portfolios for mutual funds and institutional clients. Congress Asset Management, also a Boston based firm, manages approximately $8B of AUM for institutional and private clients.
Feb 2017
Shapiro Capital Management
American Beacon Advisors
Advised Shapiro Capital Management, an investment management firm offering a range of value-based equity investment solutions, on the sale of a majority interest to American Beacon Advisors. Shapiro Capital Management managed approximately $4.3 billion of client assets as of January 31, 2017. As part of the transaction, certain senior members of the investment team will increase their ownership interest in the firm.
Jan 2017
PacWest Financial Management
Benefit Financial Services Group, a partner firm of Focus Financial Partners
Advised PacWest on the sale of the firm to Benefit Financial Services Group, a partner firm of Focus Financial Partners. PacWest is a registered investment advisory firm based in Phoenix, AZ. PacWest provides comprehensive wealth management and financial planning services to approximately 200 families and individuals.
Jan 2017
Crestwood Advisors
Focus Financial Partners
Advised Crestwood Advisors on the sale of the firm to Focus Financial Partners. Crestwood Advisors is a registered investment advisory firm based in Boston, MA. It managed approximately $1.4 billion in client assets at the time of the transaction, primarily for high net worth families and individuals.
Oct 2016
West Capital Management
WSFS Financial Corporation
Advised West Capital Management, a Philadelphia-based wealth management firm on its strategic sale to WSFS Financial Corp (NASDAQ: WSFS). West Capital managed approximately $700 million of client assets at the time of the announcement.
Sep 2016
Crest Investment Partners/Cypress Capital Group
American Beacon Advisors
Advised American Beacon Advisors, a leading provider of investment advisory services to institutional and retail markets, on its acquisition of a controlling interest in Crest Investment Partners from Cypress Capital Group. Crest Investment Partners is an independent registered investment advisory firm providing quantitative, fundamentally-driven investment solutions to institutional and individual clients. Crest Investment Partners is the second acquisition for American Beacon's multi-affiliate investment management holding company, following on the ARK Investment Management acquisition in July 2016.
Aug 2016
NCM Capital
Piedmont Investment Advisors
Advised Piedmont Investment Advisors on the acquisition of NCM Capital, with AUM of $470 million. With the addition of NCM, Piedmont will have more than $1 billion of fixed income AUM and $6.3 billion of total AUM. Both firms are based in Durham, NC.
Aug 2016
Analytic Investors, LLC
Wells Fargo Asset Management
Advised Analytic Investors, LLC, an investment management firm offering a range of quantitatively-based equity investment solutions, on the sale of the firm to Wells Fargo Asset Management. Analytic Investors, LLC managed approximately $15 billion of client assets at the time of the announcement.
Jul 2016
ARK Investment Management
American Beacon Advisors
Advised American Beacon Advisors, a leading provider of investment advisory services to institutional and retail markets, on its acquisition of a minority interest in ARK Investment Management, a New York based federally registered investment adviser that offers registered and unregistered investment products, including a suite of exchange-traded funds focused on disruptive innovation. ARK Investment Management is the first asset manager in which American Beacon Advisors has taken an ownership position, and in advance of the transaction, Colchester Partners is advising the firm on the creation of a multi-affiliate investment management holding company.
Apr 2016
Emerson Investment Management, LLC
Boston Financial Management
Advised Emerson Investment Management, LLC, a wealth management firm based in Boston, MA, on the merger of the firm into Boston Financial Management. Emerson managed approximately $700 million of client assets at the time of the announcement.
Mar 2016
HHG & Company, LLC
Wealth Enhancement Group
Advised HHG & Company, LLC, a HNW firm based in Darien, CT, on the sale of the firm to Wealth Enhancement Group. HHG & Company, LLC managed approximately $1.0 billion of client assets at the time of the announcement.
Feb 2016
Fiduciary Management Associates
Mesirow Financial
Advised Fiduciary Management Associates on the sale of the firm to Mesirow Financial. Fiduciary Management Associates, based in Chicago, IL, managed approximately $1.7 billion of small and smid cap value portfolios for a variety of institutional and sub advisory clients at the time of the announcement.
Jan 2016
Polen Capital Management, LLC
iM Square
Advised Polen Capital Management, LLC on the sale of a minority interest to iM Square, a global investment and development platform for the asset management industry. iM Square founding shareholders include Amundi, Eurazeo and La Maison. Polen Capital Management, LLC manages approximately $7.5 billion of US Large Cap and Global equity portfolios for institutions and individuals, and serves as the advisor to the Polen Growth and Polen Global Growth mutual funds. In conjunction with this minority non-voting equity investment from iM Square, the employees of Polen Capital Management have increased their ownership from 51 percent to 60 percent.
Jan 2016
Douglas C. Lane & Associates
Focus Financial Partners
Advised Douglas C. Lane & Associates on the sale of the firm to Focus Financial Partners. Douglas C. Lane & Associates is a registered investment advisory firm based in New York City and manages approximately $4.3 billion in client assets on behalf of high net worth families, trusts, pensions, endowments, foundations and institutions.
Dec 2015
FORT L.P.
Goldman Sachs' Petershill II Fund
Advised the management team of FORT L.P. on the sale of a minority interest owned by Capital Z Investment Partners to Goldman Sachs' Petershill II fund. FORT L.P. is a managed futures specialist with approximately $1.5 billion of assets under management.
Dec 2015
Strategic Global Advisors
Nile Capital Group
Advised Strategic Global Advisors, LLC on the sale of a minority interest to Nile Capital Group, a private equity firm providing capital and services to boutique and emerging asset managers. Strategic Global Advisors, LLC manages over $2.5 billion of international and global equity portfolios for institutions and individuals.
Dec 2015
EnCap Investments
Dyal Capital Partners
Advised EnCap Investments, the leading provider of private equity to the independent sector of the U.S. oil and gas industry, on the sale of a minority interest to Dyal Capital Partners. Since 1988, EnCap Investments has raised 19 Funds totaling approximately $27.5 billion and currently manages capital on behalf of more than 300 U.S. and international investors.
Sep 2015
Federal Street Advisors
Pathstone Family Office
Advised Federal Street Advisors, a Boston-based ultra HNW firm, on its merger with Pathstone Family Office. Federal Street Advisors managed $4 billion of client assets at the time of the transaction. Combined, the two firms will be a multi-family office with more than $7 billion of client assets.
Jul 2015
myCIO Wealth Partners
AMG Wealth Partners
Advised myCIO Wealth Partners LLC on the sale of a majority equity interest in the firm to AMG Wealth Partners, L.P. Based in Philadelphia, myCIO is a Comprehensive, Independent and Objective (CIO) financial advisory firm founded in 2005, advising approximately $7 billion in client assets.
Jan 2015
Baker Street Advisors
AMG Wealth Partners
Advised Baker Street Advisors, a San Francisco-based ultra HNW firm, on its sale of a majority equity interest to AMG Wealth Partners. Baker Street currently manages $6 billion of client assets.
Dec 2014
Colony Realty Partners
Colony Financial
Advised the management team of Colony Realty Partners on the transfer of their equity interests into the proposed combination of Colony Financial with Colony Capital and Colony Realty Partners. Founded in 2005, Colony Realty Partners is a private equity real estate investment firm with over $4 billion invested in more than 170 individual assets in twenty-two US markets.
Oct 2014
Paul St. Onge
GW & Wade
Advised Paul St. Onge on the sale of the business to GW & Wade, a partner firm of Focus Financial Partners, LLC. Paul St. Onge is a East Greenwich, R.I.-based sole practitioner with $150 million in AUM, serving clients in New England and Florida for over 25 years.
Jun 2014
361 Capital, LLC
Lovell Minnick Partners
Advised 361 Capital on the sale of a minority interest in the firm to Lovell Minnick Partners. 361 Capital is a Denver-based asset management firm specializing in liquid alternative investments, accessible primarily through mutual funds.
Mar 2014
Aviva Investors
AMG & River Road Asset Management
Advised the management team of River Road Asset Management in Aviva Investors' sale of the firm to management and AMG. River Road specializes in value-oriented equity management for institutional investors around the world. River Road manages approximately $11 billion for clients on 3 continents and in 12 countries. River Road was established in 2005 and has been a Colchester Partners client for 4 engagements since 2007.
Sep 2013
Existing Partners
Select Employees of Regiment Capital Advisors
Advised Regiment Capital Advisors on ownership and management succession and the design and implementation of new equity arrangements and governance structures. Regiment manages $6 billion of assets on behalf of primarily institutional investors across a long/short credit focused hedge fund, high yield and bank loan separate accounts, and a CLO.
Jun 2013
Aster Investment Management Co
Arrowpoint Partners
Advised Aster Investment Management Co. on the announced sale to Arrowpoint Partners. Aster Investment Management is the investment adviser to the $2.9 billion Meridian mutual fund family. The transaction is expected to close in the third quarter of 2013.
Jan 2013
Fountain Capital Management
Palmer Square Capital Management
Advised Fountain Capital Management on the sale of a majority interest to Palmer Square Capital Management, an affiliate of Mariner Holdings. Fountain Capital Management manages approximately $1.1 billion in high-yield bond and bank loan portfolios with a particular focus on higher credit quality sectors.
Oct 2012
SCS Financial Services
Stone Point Capital's Trident V Fund
Advised SCS Financial Services on the sale of a minority interest in the firm to Stone Point Capital's Trident V Fund.  SCS Financial Services is a Boston-based ultra-high-net-worth advisor and hedge fund-of-fund manager with more than $9 billion in assets under management.
Oct 2012
McDonnell Investment Management, LLC
Natixis Global Asset Management
Advised McDonnell Investment Management on the sale of the business to Natixis Global Asset Management. McDonnell Investment Management manages approximately $13.5 billion of investment grade and municipal bond portfolios for institutions and high net worth clients.
Aug 2012
Pierre & Company / Michael Pierre
Anchor Capital Advisors
Advised Michael Pierre on the transfer of $505 million in client accounts related to his Focused Value product from Moody Aldrich Partners to Anchor Capital Advisors, as well on his concurrent hiring by Anchor as a Senior Vice President and Portfolio Manager.  Anchor Capital Advisors, a majority-owned subsidiary of Boston Private Financial Holdings, manages $6.3 billion across a variety of equity strategies.
May 2012
Atlantic Asset Management
Fountain Capital Management
Advised Fountain management on the repurchase of a minority interest in the firm from Atlantic Asset Management.  Following the transaction, the firm is 100% owned by current and former employees.  Fountain Capital Management manages approximately $1.2 billion of U.S. High Yield Fixed Income assets on behalf of institutional investors.
Apr 2012
McDonnell Investment Management, LLC
THL Credit Advisors
Advised McDonnell Investment Management on the announced sale of its Alternative Credit Strategies business to THL Credit Advisors, the credit affiliate of Thomas H. Lee Partners.  ACS manages $2.5 billion in bank loan and high yield bond assets.  McDonnell Investment Management manages approximately $15 billion of investment grade and municipal bond portfolios for institutions and high net worth clients.
Mar 2012
Veritable LP
AMG Wealth Partners
Advised Veritable LP on the sale of an equity interest in the firm to AMG Wealth Partners.  Following the transaction, Veritable's management and employees will hold a significant equity interest in the business and continue to direct its day-to-day operations.  A leading wealth management firm, Veritable manages over $10 billion of assets across nearly 200 ultra-high-net-worth families.
Feb 2012
Legg Mason
Bartlett & Co.
Advised management on the repurchase of the firm from Legg Mason.  Following the transaction, the firm is 100% employee owned.  At the closing of the transaction, Bartlett & Co. managed $2.8 billion of assets primarily on behalf of high net worth clients.
Nov 2011
Parish Capital Advisors, LLP
StepStone Group
Advised Parish Capital Advisors on the sale of the business to StepStone Group.  Parish Capital Advisors is a fund of private equity funds manager with $2 billion of AUM at the announcement of the transaction.  StepStone Group is a global private equity specialist overseeing more than $40 billion of private equity allocations, including over $7.5 billion of AUM.
Sep 2011
Citizens-Union Savings Bank
Dedham Institution for Savings
Advised both parties in connection with Citizens-Union Savings Bank's sale of a minority interest in Plimoth Investment Advisors to Dedham Institution for Savings.  Plimoth manages approximately $300 million in diversified equity and fixed income portfolios for high net worth individuals and a few select institutions.
Sep 2011
The Colony Group, LLC
Focus Financial Services
Advised The Colony Group on the sale of the firm to Focus Financial Partners.  The Colony Group is a wealth management firm that manages $1.3 billion for high net worth and institutional clients.  Focus Financial is a leading international partnership of independent, fiduciary wealth management firms with over $45 billion in AUM.
May 2011
Institutional Shareholder
Strategic Equity Partner
Advised Boston Advisors in connection with a recapitalization of the firm.  The recapitalization involved raising capital from a strategic equity partner which allowed the firm to buy out the debt and equity positions of an outside institutional shareholder.  Boston Advisors manages $1.8 billion in equity assets for individual and institutional investors.
Apr 2011
Legato/California Public Employee Retirement System (MDP II Program) - North Carolina Mutual Insurance Co.
Piedmont Investment Advisors, LLC
Advised Piedmont in raising capital from a strategic equity partner to buy the interests owned by its outside shareholders: a CalPERS joint venture with Legato Capital Management and North Carolina Mutual Insurance Co. Following the transaction, the firm is 70% owned by Piedmont employees.  Piedmont manages $3.4 billion in equity and fixed income portfolios primarily for institutions.
Apr 2011
Strategic Investment Group/California Public Employees Retirement System (MDP I Program)
LM Capital Group, LLC
Advised LM Capital on the repurchase of a 35% interest in the firm from a CalPERS joint venture with Strategic Investment Group.  Following the transaction, LM Capital is 100% employee owned.  The firm manages $4.7 billion in fixed income strategies for institutional clients.
Mar 2011
Wells Capital Management's Global Strategic Products Group
Golden Capital Management, LLC
Advised Golden Capital on its announced acquisition of the Global Strategic Products Group from Wells Capital Management.  As part of the transaction, Wells Fargo will increase its ownership stake in Golden Capital to more than 50%.  Golden Capital manages more than $3 billion in enhanced equity strategies for institutional and managed account clients.  The GSP Group manages approximately $8 billion in institutional and mutual fund assets.
Jan 2011
Shenandoah Asset Management, LLC
Piedmont Investment Advisors, LLC
Advised both parties on Piedmont's acquisition of Shenandoah, an institutional, quantitative manager of mid-cap core and large cap value investment products.  Piedmont manages more than $3.4 billion in equity and fixed income portfolios for institutions.
Nov 2010
Integrity Asset Management, LLC
Munder Capital Management
Advised Integrity on the sale of the firm to Munder.  Integrity manages more than $3 billion of value-oriented equities for a diverse group of institutional clients.  Munder manages more than $14 billion for institutional and retail clients primarily in domestic growth equities, international equities and fixed income.
Nov 2010
Optique Capital Management, Inc
MFC Global Investment Management (US)
Advised Optique on the sale of the firm to MFC Global.  The transaction includes the proposed reorganization of the Optique International Value Fund (OPIEX) into the John Hancock Funds III family of funds.  Optique manages approximately $800 million in value-oriented equity and fixed-income portfolios for institutions and high-net-worth individuals.  MFC Global is the asset management arm of Manulife Financial Corporation, a global leader in wealth management services.
Mar 2010
Prelude Asset Management LLC
Congress Asset Management
Advised both parties on Congress's acquisition of Prelude, a $1.2 billion fixed income firm. Congress manages more than $5 billion in diversified equity and fixed income portfolios for institutions and high net worth individuals. The combined firm will have $6.4 billion in assets under management and will remain privately-held.
Jan 2010
River Road Asset Management, LLC
Aviva Investors
Advised River Road on the sale of the firm to AVIVA Investors, the global asset management business of Aviva plc (AV). River Road is an institutional investment management firm that manages approximately $3.6 billion of assets for clients in Small Cap Value, Small-Mid Cap Value, Dividend All Cap Value and Select Equity products.
Dec 2009
Fiduciary Management Associates
John Hancock Funds
Advised Fiduciary Management Associates ("FMA") in connection with the adoption of the FMA Small Company Portfolio by John Hancock Funds. FMA manages approximately $1.4 billion for institutional clients in a variety of equity and fixed income strategies.
Jun 2009
Integra Capital Management
Bank of Montreal
Advised Integra on the sale of its defined contribution recordkeeping business to Bank of Montreal.  Integra Capital Management is a Canadian investment management firm that offers a variety of pooled investment funds, absolute return strategies and private client services to institutional and high-net-worth clients.
Jun 2009
Tortoise Capital Advisors LLC
Mariner Holdings LLC
Advised Tortoise Capital Advisors in connection with the acquisition by Mariner Holdings LLC and management of all the ownership interests in Tortoise.  Tortoise managed approximately $2 billion in closed end funds and separately managed accounts focused on MLPs in the energy sector.
May 2009
CypressTree Investment Management, LLP
Primus Asset Management, Inc.
Advised the management team in connection with the sale of the firm to Primus Asset Management, Inc., a wholly-owned subsidiary of Primus Guaranty, Ltd. CypressTree manages approximately $2.4 billion in leveraged loans and high yield bonds in a variety of investment products.
Mar 2009
Advanced Investment Partners, LLC / State Street Global Alliance, LLC
Wayne Hummer Asset Management Co.
Advised the management of Advanced Investment Partners LLC ("AIP"), an affiliate of State Street Global Alliance, LLC, in connection with Wayne Hummer Asset Management Company's ("Whamco") purchase of certain assets and assumption of certain liabilities of AIP.  The senior management of AIP will increase their minority ownership interest in the business.  AIP manages approximately $550 million in active quantitative U.S. equity strategies for both institutional and private clients. Whamco is an affiliate of Wintrust Financial Corporation.
Feb 2009
Freeman Associates Investment Management, LLC / Investment Science Corporation
Freeman Investment Management Co.
Advised Freeman Associates on its merger with ISC into a new investment management entity known as Freeman Investment Management Co.  Freeman Associates managed approximately $1 billion in quantitative strategies at the time of transaction announcement.
Jan 2009
O'Brien Management, LLC
N/A
Advised O'Brien Management on restructuring the firm's equity ownership with the objective of facilitating the transfer of equity interests among employees while maintaining the firm's independence.  This also involved advice on the firm's succession plans, internal governance matters and financing arrangements.  O'Brien manages more than $230 million on behalf of high-net-worth clients.
Nov 2008
Fortis Bank SA/NV
River Road Asset Management, LLC
Advised River Road on both (i) the acquisition of the 45% minority interest held by Fortis Bank and (ii) the financing for the transaction by Asset Management Finance.  We also advised River Road on the structure of the firm's equity ownership and internal governance arrangements.  River Road is an institutional investment management firm that manages approximately $3 billion of assets for clients in Small Cap Value, Small-Mid Cap Value and Dividend All Cap Value products.
Jul 2008
Utendahl Capital Management
Private Individual
Advised a new investor in valuing two investment management entities and assisted in structuring a debt and equity investment in the $2.6 billion fixed income manager.
Jun 2008
N/A
Progress Investment Management
Advised Progress management on the repurchase of a minority interest in the firm from a passive outside shareholder.  Progress, now 100% employee-owned, manages $6 billion in emerging manager-of-manager portfolios for institutional clients.
Apr 2008
ING Ghent
Rogge Global Partners
Advised Rogge on its acquisition of ING Ghent.  Ghent was a stand-alone subsidiary of ING Investment Management Americas. It manages approximately $1.7 billion in high-yield fixed-income assets for primarily institutional clients.  Rogge manages more than $37 billion in global fixed-income strategies for institutional clients.
Jan 2008
Hamlin Capital Management
N/A
Advised Hamlin on its equity structure, internal governance and financial arrangements, with the objective of facilitating the transfer of equity interests among employees while maintaining the firm's independence.  Hamlin manages more than $700 million in equity and fixed-income strategies for institutional and high-net- worth clients.
Nov 2007
Ariel Capital Management
N/A
Advised Ariel on the structure of its existing equity plan and on related internal governance and financial arrangements.  Ariel manages more than $13 billion in value equity strategies for institutional and mutual fund clients.
Nov 2007
Acadian Asset Management
N/A
Advised the management team on an ownership restructuring with its parent, Old Mutual (US) Holdings, and on the management team's internal economic arrangement.  Acadian manages more than $80 billion in global quantitative equity strategies for institutional clients.
Nov 2007
Wall Street Associates
N/A
Advised the management team on an ownership restructuring with the objective of providing equity participation to the firm's second generation while maintaining the firm's independence.  Wall Street manages approximately $2 billion in growth equities for institutional and private clients.
Oct 2007
Grosvenor Capital Management
Hellman & Friedman
Advised the management team in connection with the sale of a minority interest to Hellman & Friedman.  The sale provided liquidity for a minority stake held by Value Asset Management.  Grosvenor, one of the largest fund of hedge funds managers in the world, manages $24 billion in assets primarily for institutional clients.
Oct 2007
Aronson+Johnson+Ortiz
N/A
Advised AJO on a variety of internal ownership and valuation matters.  AJO manages more than $24 billion in value equities for institutional clients.
Sep 2007
Rigel Capital
Asset Management Finance
Advised Rigel in connection with securing financing from AMF to provide liquidity to certain of the firm's equity owners.  Rigel manages over $2 billion in growth equities for institutional and high-net-worth clients.
Jul 2007
O'Connell Investment Services
Rockland Trust Co.
Advised O'Connell  in connection with its sale to Rockland Trust Company.  O'Connell manages more than $200 million in client assets.
Apr 2007
ABN AMRO
Tamro Capital Partners
Advised ABN AMRO on the sale of one of its U.S. subsidiaries, Tamro Capital Partners, to a group that consisted of the management team, a private equity firm, Northern Lights Ventures, and a marketing firm, Stellate Partners.  Also, advised the management team with the formation, equity structure and internal governance arrangements of the new management entity.  Tamro manages $750 million of small –cap core strategies for institutional and individual investors.
Mar 2007
Integra Capital
ScotiaBank
Advised Integra Capital on the sale of its high-net-worth business to Scotia Bank as well as on various strategic growth initiatives.  Based in Toronto, Integra manages C$3.5 billion for institutional clients.
Mar 2007
Piedmont Investment Advisors
CalPERS
Advised Piedmont in raising equity capital.  CalPERS provided this capital, in addition to investment capital of $100 million for one of Piedmont's products, through their Manager Development Program (MDP II).  Piedmont manages approximately $2 billion in a variety of quantitative and risk-management strategies on behalf of primarily institutional investors.
Feb 2007
Vertical Capital
N/A
Advised the management team on restructuring the firm's equity ownership, as well as on its internal governance mechanisms and compensation guidelines.  Vertical manages more than $10 billion in structured-finance securities.
Sep 2006
Old Mutual (US) Holdings
First Pacific Advisors
Advised the management team on a transaction that resulted in certain assets of the firm being transferred from a subsidiary of Old Mutual to a LLC owned and controlled by the management team members.   First Pacific Advisors manages more than $9 billion in primarily small/mid-cap, value-oriented equities for mutual funds and institutional accounts.
Jul 2006
Utendahl Capital Mgmt
Parish Capital Advisors
Advised the management team on a recapitalization that involved restructuring the firm's ownership and raising capital from Parish Capital Advisors.  Utendahl is a minority-owned firm that manages more than $2.5 billion in fixed-income securities for institutions.
Jun 2006
Kaspick & Company
TIAA-CREF
Advised TIAA-CREF on its acquisition of Kaspick.  Kaspick manages more than $3 billion in planned gift and other assets for colleges, universities and other not-for-profit organizations.
May 2006
Opus Capital Management
Asset Management Finance
Advised Opus in connection with an investment by AMF.  We also provided Opus with advice on succession planning and restructuring the firm's equity ownership and internal governance arrangements.  Opus is a small-cap value manager with approximately $1.5 billion in assets under management.
Jan 2006
CalPERS
Rigel Capital
Advised Rigel management on the repurchase of a portion of a minority interest held by an outside investor, CalPERS, and on the equity structure for the retained majority interest.  Rigel manages over $2 billion in growth strategies for institutional and high-net-worth clients.
Dec 2005
Salem Capital Management
N/A
Advised Salem Capital on a variety of succession issues and on a partner buyout that maintained the firm's independence.  Salem Capital manages more that $400 million for high-net-worth clients.
Dec 2005
Freeman Associates
N/A
Advised Freeman on its equity structure, internal governance and financing arrangements, with the objective of facilitating the transfer of equity interests among employees while maintaining the firm's independence.  Freeman manages approximately $4 billion in a variety of traditional and alternative quantitative strategies for institutions.
Oct 2005
Golden Capital Management
Wachovia (Evergreen Investments)
Advised the management team on Evergreen Investments' acquisition of a substantial minority interest held by CalPERS, an outside investor.  Golden Capital manages approximately $2.1 billion in enhanced strategies for both institutional and high–net-worth clients.
Sep 2005
Sands Capital Management
N/A
Advised Sands Capital on restructuring the firm's equity ownership with the objective of facilitating the transfer of equity interests among employees while maintaining the firm's independence.  This also involved advice on the firm's succession plans, internal governance matters and financing arrangements.   Sands Capital manages more than $20 billion in large-cap growth strategies for institutional and high-net-worth clients.
Aug 2005
Jensen Investment Management
N/A
Advised Jensen on restructuring the firm's equity ownership with the objective of facilitating the transfer of equity interests among employees while maintaining the firm's independence.  This also involved advice on the firm's succession plans, internal governance matters and financing arrangements.  Jensen manages approximately $3 billion of institutional, high-net-worth and retail assets.
Aug 2005
Old Mutual (US) Holdings
Integra Capital
Advised the management team on the acquisition of the high-net-worth and institutional asset management businesses, Integra Capital and Integra Private Investment Management, respectively, from Old Mutual, as well as on the formation, equity structure, and governance provisions of the two new management-owned entities.  Integra manages $2.8 billion for institutional and high-net-worth clients.
Dec 2004
KLS Advisors
Boston Private Financial Holdings
Advised Boston Private on the identification and acquisition of a New York-based wealth manager.  Boston Private successfully completed the  acquisition of KLS Professional Advisors, a wealth management firm with $3 billion under management.
Oct 2004
Refco Group Ltd and Schroders Investment Management
ForstmannLeff Associates (FLA)
Advised the management team on a new economic relationship with its parent, Refco, a privately-held financial services company, and on the acquisition of a small-cap equity team from Schroders Investment Management.  At the time of the deal, FLA managed approximately $4.5 billion in a variety of equity strategies for institutions, WRAP sponsors and high-net-worth clients.
Apr 2004
Bank of America Corp (Columbia Mgmt Group)
Progress Investment Management
Advised Progress on the management-led buyout of the firm from Columbia Management, a subsidiary of Bank of America, as well as on the formation, equity structure and governance provisions of the new management LLC. Progress, one of the largest manager-of-emerging-manager investment firms, is a minority-owned firm with approximately $3.8 billion under management for institutional clients.
Mar 2004
PNC Financial
Hawthorn/Veritable
Consulted with Hawthorn and PNC Financial regarding strategic alternatives and operating relationships for the Hawthorn business.  Following the decision by PNC to divest of the Hawthorn wealth consulting business, we assisted the Hawthorn management team with the purchase of the business, which had more than $6 billion in assets at the time, as well as on the formation, equity structure and internal governance arrangements of the new investment advisory entity, Veritable, LP.  Veritable is a wealth management firm with over $7 billion in assets under management for high-net-worth clients.
Feb 2004
Value Asset Management
Grosvenor Capital
Advised the management team of Grosvenor on an ownership restructuring with their former majority owner and on the management team's internal economic arrangement.  Grosvenor, one of the largest fund-of-hedge-funds managers in the world, manages $13 billion in assets for both institutional and individual investors located in North America, Asia and Europe.
Dec 2003
Dresdner Bank
EIF
Advised management on a MBO from Dresdner Bank and consulted on the formulation and structure of a new management entity.  EIF is a private equity fund manager dedicated exclusively to the independent power and electric utility industry.  Through its funds, EIF manages diversified investments with an aggregate underlying asset value of $5 billion.
Nov 2003
Rigel Capital
CalPERS
Advised Rigel management on the sale of a minority interest in the firm to CalPERS and on the structure and equity participation of the retained majority.  Rigel manages over $2 billion in growth equities for institutional and high-net-worth clients.
Oct 2003
N/A
Golden Capital Management
Advised Golden management on the repurchase of a minority stake held by a venture capital partner.  Golden manages over $1 billion in large-cap equities for institutional and high-net worth-clients.