September 20, 2004
BURLINGTON, VT, September 20, 2004 – Champlain Investment Partners, LLC (“Champlain”) is pleased to announce that several former employees of National Life Group’s investment management subsidiary, NL Capital Management, Inc. have joined Champlain as Principals. The group of professionals, led by Scott T. Brayman and Judith W. O’Connell, comprise the core of Champlain’s investment, client service, and operations team, which is registered with the Securities and Exchange Commission as an investment advisor focused on small and mid cap equity investment strategies for public and private pension and endowment plans.
Scott T. Brayman, CFA, will lead the investment team, which includes Van Harissis, CFA, David M. O’Neal, CFA, and Deborah R. Healey; all of whom are joining Champlain from NL Capital. Together they will continue executing a disciplined small and mid cap equity investment approach. Brayman brings more than 20 years of investment experience to Champlain, and was most recently responsible for managing over $1.5 billion in assets, including the Sentinel Small Company Fund and Sentinel Core Mid Cap Fund. “I feel especially privileged to be part of such an exceptional group of experienced people and partners,” comments Brayman. Harissis, who also has 20 years of investment experience, was formerly Lead Portfolio Manager of the Large Cap Equity Team at NL Capital where he was responsible for managing approximately $1.4 billion in assets, primarily in the Sentinel Common Stock Fund. O’Neal will be a senior investment analyst specializing in health care research. Healey who also joins from NL Capital will manage the equities trading for Champlain bringing a wealth of experience as senior trader with Fidelity Investments and Putnam Investments in Boston.
Judy O’Connell will have primary responsibility for the Champlain’s day-to-day operations, client service, and marketing. Prior to Champlain, O’Connell was Senior Vice President at NL Capital with primary responsibility for client service, marketing and operations for the firm’s institutional business. Other key professionals include Mary E. Michel and Wendy Nunez.
Champlain Investment Partners, LLC is structured as a private partnership, in which key employees have majority ownership of the equity. “The alignment created by broad equity distribution will enable us to attract and retain key people,” states Brayman.
Rosemont Investment Partners, LLC has provided funding for the operations and growth of Champlain, as well as ongoing strategic value. “We feel that this group of investment professionals will thrive in an independent, employee-owned firm. With Rosemont’s capital and strategic assistance, the principals of Champlain are ideally positioned to create a firm that aligns the interests of its clients, employees and partners,” stated David Silvera, Managing Director of Rosemont Investment Partners, LLC. Rosemont Investment Partners, LLC is a private equity firm focused on the asset management industry.
Champlain has filed a no-load mutual fund with the SEC to serve the needs of individual investors, and retirement plans. “With the hiring of a complete team of experienced professionals with outstanding investment track records and broad operations/compliance experience, along with the sponsorship of Rosemont, Champlain can immediately offer clients investment services and client support consistent with our goal of developing enduring client relationships,” comments O’Connell.
April 2, 2004
CONSHOHOCKEN, PA, April 2, 2004 – Rosemont Investment Partners, LLC today announced that it had sold its interest in Charlotte Capital, LLC to Sanders Morris Harris Group Inc. (NASDAQ: SMHG). Rosemont acquired its stake in Charlotte in October 2000 when it teamed with management in a buyout of the departing president of Charlotte’s predecessor firm, Capital Technology, Inc. Employees of Charlotte Capital will retain their 31% interest in the Company and will have the opportunity to expand their ownership interest over time.
Based in Charlotte, North Carolina, Charlotte Capital manages approximately $400 million in small and small-mid cap value equity products on behalf of a predominantly institutional client base. Since its formation through the Rosemont-sponsored buyout, Charlotte has grown its client base and significantly outperformed the relevant indices for its small and small-mid cap value equity products. “The entire Charlotte team remains committed to providing disciplined investment products and outstanding service to its clients. The affiliation with Sanders Morris will enhance Charlotte’s ability serve its institutional client base while providing an opportunity for growth in other channels.” said David Silvera, Managing Director of Rosemont Partners.
All employees of Charlotte are expected to continue with the Company, which is led by Ron Saba as Chief Investment Officer and Rob Mathai as Chief Operating Officer. “We have enjoyed our affiliation with Rosemont, which provided capital and strategic guidance to our firm during a critical period in our evolution.” said Mathai, “We are excited to begin the next chapter in our firm’s development in association with SMHG, which will enable us to enhance our services to existing clients and provide a solid platform for future growth.”
About Rosemont Investment Partners, LLC
Rosemont Investment Partners, LLC is the General Partner for private equity funds that make minority investments alongside dynamic, motivated management teams in the investment management industry. Rosemont employs its industry expertise and works alongside those management teams to further the growth of Rosemont’s investments. Charlotte Capital is one of seven investments that Rosemont Partners I, L.P. has made; the Fund’s portfolio companies now manage approximately $12.8 billion in assets under management.
About Sanders Morris Harris Group Inc.
SMHG is a diversified financial services holding company based in Houston, Texas. It provides investment banking services and manages over $7.5 billion in client assets. Its operating entities are Sanders Morris Harris, Salient Partners/Pinnacle Trust, SMH Capital Advisors, Inc. and Kissinger Financial Services. Additional information is available at http://www.smhgroup.com.
February 1, 2003
CONSHOHOCKEN, PA, February 1, 2003 – Rosemont Partners today announced the completion of a minority investment in Rice Hall James & Associates as part of a management-led buyout from its parent, Old Mutual. Upon the completion of the transaction, Rice Hall will operate as an independent investment company with no changes in investment philosophy or personnel.
Located in San Diego, Rice Hall James & Associates is an investment management firm specializing in small and mid cap investing. It is also the advisor to the Rice Hall James Small/Mid Cap Fund and the Rice Hall James Micro Cap Fund. Founded in 1974, the firm manages assets of $1.7 billion on behalf of its institutional and individual clients. In 1987, Rice Hall James became a wholly owned subsidiary of United Asset Management Corporation, which was subsequently purchased in 2000 by Old Mutual plc (LSE:OML), an international financial services company headquartered in London.
Rice Hall James received financial backing from West Conshohocken, PA-based Rosemont Partners I, L.P., which provided capital for the repurchase of the firm as well as strategic guidance throughout the transaction.
“We are excited to have partnered with such an accomplished and highly motivated team of professionals,” said David Silvera, Managing Director of Rosemont Investment Partners, LLC, the General Partner of Rosemont Partners I, L.P., an independent firm. “Rice Hall will be better positioned to continue its tradition of disciplined investing and outstanding client service, while having increased resources with which to reward and retain its employees.”
About Rosemont Partners
Rosemont Investment Partners, LLC is a merchant bank that provides strategic capital and investment banking advisory services to firms in the investment management and related industries. The firm makes minority investments alongside dynamic, motivated management teams and employs its industry expertise to further the growth of its investments. The sponsorship of Rice Hall’s management buyout marks the seventh investment for Rosemont Partners I, L.P.
April 22, 2002
CONSHOHOCKEN, PA, April 22, 2002 – Rosemont Partners today announced the completion of a minority investment in Allegiance Capital, LLC. Allegiance is an independently owned fixed income manager based in Huntington Beach, CA managing over $2.8 billion of taxable fixed income assets. Allegiance is a “core” fixed income manager providing either ‘AAA’ or ‘investment grade’ management for clients that include institutions and broker-advised and individually managed account programs.
Allegiance was formed in 1988 by a team of fixed income professionals who had previously worked together at Govaars and Associates. Led by CIO Bill Mawhorter and a team of 10 investment professionals, the firm has produced outstanding performance in all of its products for over 10 years and has experienced asset growth of greater than 35% on average per year over the past five years. Said David Silvera of Rosemont, “We are excited to have the opportunity to partner with such an experienced and dynamic group of professionals. We’ve known the Principals for almost ten years now, and have a great deal of respect for their investment discipline and client-focused business model.”
Mark Torline, Managing Director & CEO of Allegiance hailed the opportunity to bring on a value-added partner with tremendous experience in asset management “that will provide us with a valuable resource in the continuing development of the firm,” said Torline.
West Conshohocken, PA-based Rosemont acquired the interest in Allegiance from two private investors who were not involved in Allegiance’s operations or investment process. Said Torline, “While our passive shareholders were instrumental in helping us launch Allegiance, it’s the right time for us to replace their equity with a partner that adds value and knowledge as we seek to take this business to the next level.”
About Rosemont Partners
Rosemont Investment Partners, LLC is a merchant bank that provides strategic capital and investment banking advisory services to firms in the investment management and related industries. Based in West Conshohocken, PA, the firm makes minority investments alongside dynamic, motivated management teams and employs its industry expertise to further the growth of its investments.
February 11, 2002
NEW YORK, NY, February 11, 2002 — The formal business operations of Silvercrest Asset Management Group LLC, a new investment advisory firm, officially launched today. The firm has been created by G. Moffett Cochran and Martin Jaffe, the former President and Chief Financial Officer, respectively, of Credit Suisse Asset Management, LLC. Prior to that, Cochran and Jaffe served as Chairman & CEO and Chief Operating Officer, respectively, of DLJ Asset Management Group. At Silvercrest, Cochran will serve as Chairman and Chief Executive Officer while Jaffe will serve as Chief Operating Officer.
Silvercrest, headquartered in New York City, will provide a combination of traditional and alternative asset management and focused family office services to a client base comprised of predominantly families and individuals with investable assets of over $25 million. Additionally, the firm will offer services to foundations, endowments and other select investors, including institutions.
“We believe that what we are creating at Silvercrest will be unique in the asset management business, both in terms of our client offering and the collegial professional environment that we intend to develop as an underpinning of our business,” said G. Moffett Cochran. “Our clients will benefit from two basic strategies — a strict focus on wealth management and advisory services that are independent of big-firm conflicts of interest, coupled with an unwavering dedication to client attention. In a marketplace that is crowded with products, we plan to differentiate our firm on the basis of service.”
Silvercrest intends to offer a limited range of “in-house” core equity and fixed income management capabilities that will be complemented by outsourced traditional and alternative investment capabilities. The firm will maintain a database of asset managers specializing in traditional, hedge fund, real estate and private equity products in order to offer and advise clients on a complete range of top-performing investments. Additionally, Silvercrest will offer tax and financial planning expertise and such family office services as bill-paying, accounting and concierge services.
Cochran and Jaffe bring over 55 years of wealth management and investment experience to Silvercrest. Serving as President and CFO, respectively, of Credit Suisse Asset Management LLC, after the sale of DLJ to Credit Suisse, they were responsible for managing approximately $100 billion in assets before they both resigned from that firm in mid-2001to form Silvercrest. Previously, Cochran and Jaffe oversaw the growth of DLJ Asset Management Group from less than $2 billion in 1992 to more than $33 billion at the time of its sale to Credit Suisse in 2000.
Silvercrest received initial financing from an investor group led by Rosemont Investment Partners, LLC, a merchant bank focused exclusively on the asset management industry.
About Silvercrest Asset Management Group
Silvercrest Asset Management Group LLC is an independent investment advisory and financial services firm created to meet the investment and administrative needs of individuals with substantial assets and select institutional investors. The firm was founded in January 2002 by G. Moffett Cochran and Martin Jaffe, the former President and Chief Financial Officer, respectively, of Credit Suisse Asset Management, LLC and former Chairman and CEO and Chief Operating Officer, respectively, of DLJ Asset Management Group. Business and professional inquiries should be directed as follows:
About Rosemont Partners
Rosemont Investment Partners, LLC is a merchant bank that provides strategic capital and investment banking advisory services to firms in the investment management and related industries. Based in West Conshohocken, Pa., the firm makes minority investments alongside dynamic, motivated management teams and employs its industry expertise to further the growth of its investments. Rosemont has made five investments on behalf of its fund, Rosemont Partners I, L.P.
February 7, 2002
CONSHOHOCKEN, PA, February 7, 2002 – Rosemont Partners I, L.P. announced today that it completed an investment in Fulcrum Global Partners, LLC (“Fulcrum”). Fulcrum is a research and securities brokerage firm headquartered in New York City that focuses on the equity research and trade execution needs of hedge funds, asset managers and institutions.
Fulcrum is an independent research firm that makes buy and sell recommendations supported by outstanding execution and trading capabilities. The firm has no investment banking relationships and conducts limited proprietary trading activities, ensuring the integrity of its research is not compromised by conflicts of interest. Fulcrum is focused on providing high quality research and trade execution tailored to the actionable needs of its clients.
Fulcrum was founded by Michael C. Petrycki, the former CEO of ING Barings, LLC and commenced operations in May 2001. The Company currently has 105 employees, including 14 research analysts who cover 74 companies in 11 sectors. Fulcrum recently garnered national attention when it became the only Wall Street firm to place a sell recommendation on Fannie Mae, highlighting its willingness to make recommendations that often contest consensus and uncover new ways of looking at existing opportunities.
Rosemont is making an equity investment in Fulcrum to enable the company to maintain its rapid growth and take advantage of continued hiring opportunities. “The market is hungry for the objectivity and critical analysis that Fulcrum provides. We are excited to have an opportunity to invest in a dynamic, well-managed company that is providing such a valuable service to the investment management industry,” said David Silvera, Managing Director at Rosemont.
According to Petrycki, “ We are excited by the prospect of accelerating our growth and increasing our ability to deliver high quality research and trade execution to our clients.”
Rosemont Investment Partners, LLC provides strategic capital to firms in the investment management and related industries. Based in West Conshohocken, PA, the firm makes minority investments alongside dynamic, motivated management teams and employs its industry expertise to further the growth of its investments. Rosemont has made six investments on behalf of its fund, Rosemont Partners I, L.P.
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