Asset Management Finance Reports Four New Investments __________________
Addition of First European Investment: Towry Law
Lead Equity Investment: HighTower
First Investments in Credit Strategies and Private Equity Managers
New York , January 25, 2010 – Asset Management Finance LLC (“AMF”), an investment firm focused on the global asset and wealth management sectors, announced today that it completed four new investments in December totaling approximately $200 million in invested capital. These transactions bring AMF’s total capital invested to more than $500 million.
“We concluded 2009 with a flurry of exciting investments continuing our momentum at Asset Management Finance,” said Brian D. Finn, chief executive officer. “In a single month, we completed our first pure equity investment, our first investment in a private equity firm, our first European investment, and our first investment in a credit hedge fund manager. These new investments have not only broadened our geographic and asset class diversification, but have also demonstrated our flexibility in structuring tailored solutions.”
Since its inception in 2003, AMF has invested in 18 firms in the U.S., the U.K. and Australia, providing funding for recapitalizations, growth initiatives, management buy-outs, acquisition financing, owner liquidity and other strategic investment objectives .
First European Investment
In December, AMF successfully completed its first European investment in noted UK independent fee-based wealth adviser, Towry Law. With its recent acquisition of the UK operations of Edward Jones Limited in November 2009, Towry Law has over 250 wealth advisers serving in excess of 60,000 clients with approximately £5 billion in assets under management or advice as of December 31, 2009.
Leads $100 Million Equity Investment
Also in December, AMF, whose model has historically focused on limited-term revenue share deals, completed its first pure equity transaction, leading a $100 million investment in HighTower, a leading open-source financial services company serving high net worth clients. HighTower managed approximately $15 billion in assets as of December 31, 2009.
Investments in Credit Hedge Fund Manager and Private Equity Manager
AMF made an additional year-end investment in a U.S-based credit hedge fund manager, providing capital in exchange for a limited-term Revenue Share Interest. AMF also reported its first investment in a private equity fund management company that focuses on growth equity, buyout and distressed investments. The addition of these two investments further strengthens AMF’s position as a preferred provider of capital solutions to alternative investment managers. The identities and amounts of these two new investments have not been disclosed.
Growth to Continue
“Providing structural flexibility to our revenue share model is clearly expanding our market opportunities,” said Rob Jakacki, chief investment officer of AMF. “Our newest investments reflect our ability to address specific company or market requirements while preserving AMF’s investment philosophy of providing minority risk-sharing capital to quality asset management firms. With new resources committed in Europe and a successful investment earlier this year in Australia, we expect to expand our international investment activities substantially in 2010, while also looking to do larger and more varied investments in both the U.S. and abroad,” Mr. Jakacki added.
About Asset Management Finance LLC (“AMF”)
AMF provides flexible capital to a broad range of investment firms including institutional asset managers, alternative asset managers, wealth managers and private equity firms that are seeking funding for recapitalizations, growth initiatives, management buy-outs, acquisition financing, owner liquidity and other strategic investment objectives. AMF makes minority investments designed to allow management to retain complete operational autonomy. Investors in AMF include Credit Suisse Group AG, Proctor NBF Capital Partners (through a subsidiary of National Bank Financial Inc.), Tokio Marine & Nichido Fire Insurance Co., Ltd., and AMF management. AMF has offices in New York and Boston. For more information, please visit www.AMFinance.com.
More information:
Ed Orgon
The Torrenzano Group
(212) 681-1700 x 102
ed@torrenzano.com
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