Sat, Oct 22, 2016
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


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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion