Tue, Mar 31, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Investment manager Litman Gregory sells minority interest to private equity firm

Wednesday, April 03, 2013
Opalesque Industry Update: Litman Gregory Asset Management announced today that effective April 1, 2013, it has received a minority investment from boutique private equity firm Rosemont Investment Partners, LLC. Rosemont provides strategic capital to asset management businesses. Rosemont’s investment will be used to help effect a broader succession plan that will allow Litman Gregory to remain independent for the long term, and to consolidate ownership of affiliate company Litman Gregory Fund Advisors under Litman Gregory Asset Management. There will be no changes to Litman Gregory’s management team or to its research-driven and client-focused culture, and Rosemont’s investment will be subsequently repurchased by Litman Gregory.

“We chose Rosemont after due diligence that included talking to many of their competitors and many of the firms they’ve invested in,” said Steve Savage, Litman Gregory managing partner. “It became clear that they differentiate themselves from other private equity firms by first and foremost seeking to be aligned with our objectives at all times. They bring significant industry expertise and an extensive network that we can draw on, but will be entirely hands-off in terms of how we run our business.”

“We are pleased that Litman Gregory’s succession planning objectives afforded us the opportunity to invest in a premier business. They have a great reputation for serving all their clients through high quality, independent research,” said Chas Burkhart, Rosemont’s founder. “We’ve come to know and respect the investment and business acumen of the Litman Gregory team and are looking forward to partnering with them.”


About Litman Gregory
Since 1987, Litman Gregory Asset Management, LLC has been constructing globally diversified portfolios for clients that include individuals, families, foundations, and endowments. Litman Gregory has three additional businesses that draw on the same underlying investment research: The Litman Gregory Masters Funds (a family of multi-manager equity and alternative strategies mutual funds); Litman Gregory Portfolio Strategies (globally diversified investment portfolios offered to advisors through leading turn-key asset management platforms); and Litman Gregory AdvisorIntelligence (a web-based asset class and manager research service for investment professionals). In total, Litman Gregory manages approximately $8 billion.Litman Gregory

About Rosemont Investment Partners
Rosemont Investment Partners, LLC is a specialist private equity firm focused exclusively on making investments in asset managers. Rosemont was formed in May 2000 to provide capital to fund management buyouts, recapitalizations, and selected start-ups in the asset management industry. In addition to providing capital, the principals of Rosemont assist management in growing their companies by leveraging their decades of experience in advising asset management businesses.

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner