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Laxman Pai, Opalesque Asia: GLASfunds, a turnkey alternative investment platform, and alternative asset management firm has purchased Texas-based funds platform Fund Formation Group.
According to a joint press release, founded in 2009, GLASfunds is a tech-enabled platform providing investors with secure and streamlined digital access to institutional-quality alternative investment opportunities and asset management oversight.
The Fund Formation Group is a Dallas-based firm founded in 2020 that operates fund structures for registered investment advisors (RIAs) and wealth advisors.
The deal, expected to close sometime in October, will allow GLASfunds to service clients of FFG with its own suite of private market investments and tech resources, the companies said in the release.
As part of the acquisition, GLASfunds will now service FFG's clients with their full suite of private market investing and technology resources, enabling them to deploy custom alternative investments with greater scale and efficiency.
"We saw a real opportunity to amplify the great work Fund Formation Group was already doing for this particular group of RIAs, who were looking to access alternatives in a highly customized way," said Michael Maroon Jr., Managing Director at GLASfunds.
"We're thrilled about the chance to offer these firms our end-to-end private market solution, and we believe Tom [Haynes, CEO of FFG] will be a tremendous asset to the GLASfunds team," Michael ...................... To view our full article Click here
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