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Opalesque Industry Update - Altegris Holdings and Artivest Holdings today announced they have entered into a definitive agreement under which Matt Osborne, Altegris Co-Founder and Artivest Chief Investment Officer, in partnership with Continuum Capital Managers, co-founded by Doug Grip and Steve Vanourny, will acquire the Altegris entities and all related assets from Artivest including the mutual fund and commodity pool businesses. Mr. Osborne and Continuum will re-establish Altegris as an independent company and extend its legacy as a pioneer and proven leader in the alternative investment marketplace. "We are excited to re-establish Altegris as an independent company and build on the continued success of our unique alternative offerings," said Mr. Osborne. "With our deep research heritage and pedigree of innovation, we will remain a leading provider for alternative sources of income and growth." Martin Beaulieu, CEO and Executive Chairman of Artivest, said, "We are thrilled that investors will benefit from the continuity of investment leadership provided by Matt and his team, combined with the industry experience of Doug and Steve from Continuum. In addition, we are pleased to be able to complete the sale of Artivest with this final transaction." Altegris will focus on public and registered alternative offerings including acquisition opportunities alongside new organic product launches. The Altegris platform currently includes the Altegris AACA Opportunistic Real Estate Fund (RAAIX), with a 5-Star Overall Morningstar Rating™, the Altegris Futures Evolution Strategy Fund (EVOIX); and two privately offered commodity pools. Upon closing of the transaction, the newly-independent Altegris will initially manage approximately $800 million in assets. Mr. Osborne will lead the firm as CEO and CIO alongside an experienced management team of former Artivest and Altegris colleagues. "The Altegris brand has always been synonymous with quality alternative strategies, and Steve and I are excited to partner with Matt and his team as we expand the Altegris position as a leading alternative investment manager," said Doug Grip, Founding Partner, Chief Executive Officer of Continuum Capital Managers. The transaction is anticipated to close late in 2020 and completes the sale of Artivest's assets following the previously announced sale of its private funds and technology platform to iCapital Network. Terms of the agreement were not disclosed. Procopio, Cory, Hargreaves & Savitch LLP served as legal advisor to Altegris Holdings. Stradley Ronon Stevens & Young, LLP served as legal advisor to Artivest Holdings. |
Industry Updates
Altegris reemerges as an independent alternatives boutique
Tuesday, September 15, 2020
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