Pavilion Financial Corporation, a North American investment services provider, is set to acquire Altius Holdings, the parent company of Altius Associates, a private markets advisory and account management firm.
Altius Associates will be combined with Pabilion’s alternative asset advisory subsidiary LP Capital Advisors (LPCA), creating a larger global alternative asset class advisory platform and adding to Pavilion’s services and geographical reach.
The asset advisory platform will be rebranded as Pavilion Alternatives Group, with all senior management from Altius Associates and LPCA remaining in leadership roles.
Pavilion Alternatives Group will have four locations in the US, plus offices in London, Singapore, and Canada, and will have a total of over $60 billion in alternative assets under management.
The transaction is expected to close in Q3 2016, subject to regulatory approval.
This is Pavilion’s fifth acquisition since 2010 and, according to president Daniel Friedman, is part of a wider strategy to bring quality investment services to its clients.
Friedman said: “Altius has an excellent reputation in providing alternative asset consulting to a global clientele over a span of nearly 20 years.”
“Altius and LPCA already share common values and a proven client service approach and they complement each other geographically. Together, we will form a stronger alternative asset class advisory platform for Pavilion offering consulting services and solutions across private equity, private credit, real assets, and hedge funds.”
Brad Young, co-CEO of Altius Associates in Richmond, said: “We firmly believe that our partnership with Pavilion will provide our clients with access to greater resources that will enhance our already strong advisory and research capabilities, while maintaining our entrepreneurial culture and client-service standards.”
Donn Cox, president and managing director of LPCA, added: “In addition to advising highly sophisticated institutional investors around the globe in private markets, Altius has a proven track record in providing customised solutions to its clients. Its deep and global research capabilities, dedicated private debt platform and significant real asset resources will also complement our core service offerings.”
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