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.