December 28, 2017
CONSHOHOCKEN, PA, December 28, 2017 – Rosemont Investment Partners, LLC, a specialist private investor in the asset and wealth management communities, is pleased to announce that it has made a 20% equity investment in Martingale Asset Management, L.P. as a Limited Partner. Martingale is a Boston-based equity investment management firm with approximately $8 billion under management. For 30 years, Martingale has served institutional clients with a broad array of investment strategies.
Said Chas Burkhart, Rosemont’s founder: “We have admired Martingale for years, and are excited to have the opportunity to invest in their business. They are a very well run firm, and their investment capabilities are well suited to meet the needs of sophisticated institutional investors.”
Said Alan Strassman, Martingale’s Chairman: “Rosemont is an ideal partner to assist us in the transition to a second generation of owner-managers. As our founding partners reach retirement age, we are pleased that Martingale will continue to be an independent investment firm able to maintain its long tradition of deep employee ownership.”
Morgan, Lewis & Bockius LLP represented Rosemont in connection with the investment, and Martingale was advised by a team from Choate, Hall & Stewart LLP.
About Martingale Asset Management, L.P.
Martingale Asset Management, L.P., founded in 1987, is an independent equity manager distinguished by thought leadership and innovation to serve sophisticated institutional investors. Martingale’s expertise has included active completeness funds, long/short and equity market neutral portfolios, market extension (130/30) equity portfolios, and low volatility equity strategies.
March 31, 2017
CLEVELAND, OH, March 31, 2017 – Hartland & Co., LLC (“Hartland”), a Cleveland-based institutional and wealth advisory firm, is pleased to announce that Rosemont Investment Partners, LLC (“Rosemont”) will assume a minority stake as part of a management-led recapitalization. The transaction helps fulfill Hartland’s long-term strategy of transferring ownership from founding to employee owners. Twenty-eight current and new Hartland employee shareholders will invest with Rosemont, increasing employee ownership to a significant majority of the firm.
Rosemont is a boutique investment firm that specializes in taking minority stakes in asset and wealth management firms in collaboration with management. The Rosemont transaction helps Hartland ensure continuity for its clients and employees by keeping the firm majority employee-owned. No material changes are expected as the firm continues its record of profitable growth.
“Rosemont is a strong and unique partner; they will help us broaden employee ownership and we will benefit in multiple ways from their industry expertise and network,” according to Dave Fulton, Chairman and CEO of Hartland.
“Hartland is a superior comprehensive wealth management and institutional advisor. The quality and depth of their personnel is impressive. We have watched with interest as they have built their institutional and private wealth businesses and look forward to helping support their mission,” said Chas Burkhart, founder of the Pennsylvania-based specialist private equity firm.
Silver Lane Advisors LLC, a New York-based investment banking firm, advised Hartland in this transaction.
About Hartland & Co., LLC
Hartland was founded in 1989 and today advises almost $18 billion for over 150 institutions and 500 families and individuals. The firm has 72 employees and headquarters in Cleveland, Ohio, with offices in Portland, Maine, and New York, New York.
About Rosemont Investment Partners, LLC
Rosemont is a specialist private equity firm focused exclusively on making investments in asset and wealth managers. Rosemont typically takes minority positions in support of management buyouts, recapitalizations, ownership transitions, and selected start-ups. In addition to providing capital, Rosemont leverages 30 years of advising and investing in asset management businesses.
October 31, 2016
BOSTON, MA, October 31, 2016 – Boston Common Asset Management, LLC (“Boston Common”), a pioneer in global sustainable investing, is pleased to announce that Rosemont Investment Partners, LLC (“Rosemont”) will assume a minority stake in the firm alongside employees to facilitate broader and deeper employee ownership over the long term. With notable positive support from clients and consultants, Boston Common continues on a path to building a durable, independent company that is best-positioned to serve its clients and its mission through Environmental, Social, and Governance (ESG) investing.
Rosemont is a boutique investment firm that specializes in taking long-term, minority stakes in investment firms, alongside senior management. With this transaction, Boston Common will also put in place a structure to ensure continuity and leave its people and processes unchanged, as the company sets a course for the long term.
“Rosemont is well-qualified to help us broaden equity across our team, and we will benefit greatly from their industry expertise,” said Geeta Aiyer, President and Founder of Boston Common. As the largest single equity owner, she will continue to be Chief Strategist and President—at the center of Boston Common.
“We believe that ESG investing will increasingly drive long-term shareholder value,” said Chas Burkhart, Founder of Rosemont. “Boston Common is a leader in ESG, and we are looking forward to partnering with them for years to come.” Both Boston Common and Rosemont see growing interest in ESG investing across institutional, ultra-high net worth, and retail channels.
About Boston Common Asset Management, LLC
Boston Common Asset Management is a women-led, sustainable investment manager dedicated to the pursuit of financial return and social change. Boston Common analyzes investment risks and opportunities from a broader perspective, because the firm believes understanding ESG factors is fundamental to valuing a company. Through active, engaged ownership, Boston Common seeks to improve companies’ practices and to advance the global dialogue toward a sustainable economy. Since its inception in 2003, Boston Common has built a strong investment record and has meaningfully improved corporate practices here and abroad.
About Rosemont Investment Partners, LLC
Rosemont Investment Partners, LLC is a specialist private equity firm focused exclusively on making investments in asset and wealth managers. Rosemont typically takes minority positions in support of management buyouts, recapitalizations, ownership transitions, and selected NewCos. In addition to providing capital, Rosemont leverages 30 years of advising and investing in asset management businesses.
September 6, 2016
CONSHOHOCKEN, PA and NORFOLK, VA, September 6, 2016 –
Rosemont Investment Partners, LLC (Rosemont) and Wilbanks Smith & Thomas Asset Management, LLC (WST) are pleased to announce that, effective September 1, Rosemont assumed a minority stake in the Norfolk-based asset manager.
“WST impressed us deeply as an organization, and for years we have watched with interest as they grew steadily,” said Rosemont’s Chas Burkhart, founder of the Pennsylvania-based specialist private equity firm. “We have great confidence in their respected wealth management brand, and we see exciting potential for their ETF strategy business.”
Founded in 1990, WST has decades of experience serving as a wealth manager for individual and institutional clients, and in recent years the firm has launched, through its WST Capital Management division, a platform of risk-managed strategies that leverage ETFs for cost-efficient, liquid execution.
“We are delighted by this milestone in our history, and we look forward to leveraging Rosemont’s expertise to help our clients reach their long-term goals,” said Wayne Wilbanks, co-founder and CEO of WST. “As we work to develop a responsible, client-first strategy for managing business growth, we know we will benefit immensely from their support.”
Wilbanks shared that this sale of equity occurred solely between Rosemont and the former minority partner. The transaction involves no other impact to equity ownership, and in particular does not affect the interests of Wilbanks or other WST principals.
About Rosemont Investment Partners, LLC
Rosemont Investment Partners, LLC is a specialist private equity firm focused exclusively on making investments in asset and wealth managers. Rosemont typically takes minority positions in support of management buyouts, recapitalizations, ownership transitions, and selected NewCos. In addition to providing capital, Rosemont leverages 30 years of advising and investing in asset management businesses.
About Wilbanks Smith & Thomas Asset Management, LLC
Founded in 1990, WST is a registered investment advisor providing wealth management, investment advisory and capital management services to individuals, institutions and intermediary partners. WST Capital Management, the firm’s in-house investment boutique, offers a platform of risk-managed ETF portfolio strategies aimed at providing the Bridge Between Protection and Growth®. WST is headquartered in Norfolk, Virginia, with additional offices throughout Virginia and North Carolina.
July 8, 2013
LONDON, ENGLAND and CONSHOHOCKEN, PA, July 8, 2013 – Silk Invest Limited (the “Company” or “Silk Invest”) and Rosemont Investment Partners (“Rosemont”) are pleased to announce that Rosemont has made an equity investment in Silk Invest and the investment proceeds will enable the Company to continue the expansion of its leadership position within the frontier markets as the firm opens new offices and launches new products into North America and other markets outside of its original European base. Silk Invest will remain fully independent and majority owned by its management team and partners. Rosemont, a private equity boutique focused exclusively on making investments in asset management companies, will own a minority stake.
Silk Invest has three independent investment teams for public markets equities, fixed income and private equity. It manages approximately $200 million in four different frontier equities strategies; a frontier fixed income fund and an African Food & beverages private equity fund. The primary investment focus is on in Africa, the Middle East and Frontier Asia with an emphasis on having local presence in the target regions. Silk Invest has pioneered investment strategies that capture consumer-driven trends in these markets and was also the first firm to launch a dedicated frontier fixed income fund in Europe.
Silk Invest was founded in 2008 in London by Zin Bekkali and a veteran team of investment professionals with proven expertise in investing in frontier and emerging markets. Seasoned asset managers Daniel Broby and Dr. Waseem Khan lead the company’s public markets and private equity teams. The team’s investment process incorporates seasoned institutional managers with local market expertise, representing 14 frontier countries, 18 languages and operating from offices in London, South Africa, Egypt, Morocco, UAE, Kenya and an upcoming local presence in Nigeria.
Zin Bekkali, Silk Invest’s CEO and Group CIO, commented on the transaction:
“Since launching the Company in 2008, our team, the majority who are from frontier markets, has established Silk Invest as an institutional specialist in frontier markets with track records of competitive performance and lower volatility. We aligned our investment processes with our positive macro convictions and we have pioneered consumer focused investing in these markets. We are excited by the opportunity to grow our company and enhance our client offerings as a partner with Rosemont. It was important for us to find a capital partner that would reinforce our independent boutique model and entrepreneurial culture of employee ownership.”
David Silvera, Managing Director of Rosemont, noted:
“We are excited to have the opportunity to work with the accomplished and diverse group of professionals at Silk Invest. We have come to know and respect the investment process and discipline of the team and we look forward to working with them as they continue to grow the company and serve their clients’ needs with a compelling and differentiable suite of frontier investment capabilities”.
About Silk Invest Limited
Silk Invest Limited is an employee-owned boutique investment firm that provides frontier market investment products to a variety of clients across the globe. The Company’s investment team has worked together since 2008 and brings a unique set of qualifications to investing in frontier markets. Silk Invest’s proven innovation and investment expertise with a “boots-on-the-ground” presence allows its clients to benefit from a range of investment capabilities while opening new opportunities across asset classes and frontier regions.
For more information, please visit www.silkinvest.com.
About Rosemont Investment Partners, LLC
Rosemont Investment Partners, LLC is a 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. Rosemont has built an excellent track record of assisting investment managers to achieve successful growth.
April 13, 2013
LARKSPUR, CA, April 3, 2013 – 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*. For more information on Litman Gregory visit www.litmangregory.com.
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.
*The Litman Gregory companies that manage assets include Litman Gregory Asset Management, LLC and Litman Gregory Fund Advisors, LLC. The asset values for the period are based on information available as of 12/31/12.
Mutual fund investing involves risk, loss of principal is possible.
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