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Alternative Market Briefing

Evanston Capital Management buys out TA Associates stake

Friday, March 27, 2020

Laxman Pai, Opalesque Asia:

The private equity manager TA Associates has exited an investment in hedge fund investor Evanston Capital Management (ECM).

The alternative investment management firm with approximately $3 billion of assets under management Evanston Capital has officially confirmed that its management team has completed a purchase of the minority equity stake owned by certain private investment funds affiliated with TA Associates.

The buyout was led by ECM's senior management team, headed by Adam Blitz, CEO and Chief Investment Officer. Terms of the deal, including the size of the minority stake held by TA and the price Evanston Capital paid to regain full control of the company, were not disclosed.

The entire leadership team of ECM contributed new equity capital to finance the purchase and ECM has no outstanding debt obligations. Terms of the transaction have not been disclosed.

"The entire leadership team of ECM contributed new equity capital to finance the purchase and ECM has no outstanding debt obligations," said a press note from the provider of multi-manager hedge fund programs and custom solutions for institutional and high net worth investors.

"We have enjoyed our strong partnership with TA and are excited to again be a fully independent, employee-owned asset management firm. This management buyout allows us to maintain our culture, our identity, and our strong alignment with the interests of our clients. We appreciate TA exiting it......................

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