Following an announcement from Rosemont, the Sovereign Wealth Fund Institute, commonly referred to as SWFI, reported that Rosemont Partners III, LP has sold its 23% stake in Foundry Partners. Rosemont sold its equity stake back to Foundry’s employees, helping them achieve their long-term goal of becoming 100% employee owned.
Rosemont provided Foundry with equity capital in 2013 to execute a spinout from its parent firm, Fifth Third Asset Management, and became the sole minority shareholder. As the first investment by Rosemont Partners III, Foundry Partners grew to $3.1 billion in assets under management as of September 30, 2021.
“We have enjoyed a long and productive relationship with Foundry over the past eight years,” says Rosemont Managing Director Brad Mook. “It is gratifying to see the company reach this milestone and it is a testament to Foundry’s entrepreneurialism and the strength of its client relationships. As specialized partners to successful employee-owned investment firms like Foundry, we support the company’s desire to be 100% employee-owned and wish it well in the future.”