Pensions & Investments recently reported on Rosemont’s sale of its minority stake in Foundry Partners to the institutional asset management boutique’s employees.
Rosemont provided Foundry with equity capital and was the firm’s sole minority shareholder at the time of Foundry’s founding in 2013. Rosemont’s stake at the time of sale was 23% and helped Foundry achieve its goal of becoming 100% employee-owned with $3.1 billion in assets under management as of September 30, 2021.
“Rosemont got us started,” says Foundry Partners President and CEO Timothy P. Ford. “Their knowledge and support helped us navigate the exit from Fifth Third Asset Management and land on our feet, and we’ve since proven our ability to successfully manage the business and serve our clients. Rosemont has also provided valuable advice through the years, helping us with acquisitions, product strategy, and a number of other topics.”