Primary Insight, a business that serves institutional money managers with advice from a global network of industry experts, has successfully completed a management buyout from JP Morgan
Primary Insight, a business that serves institutional money managers with advice from a global network of industry experts, has successfully completed a management buyout from JP Morgan.
Financial terms of the deal were not disclosed.
Participants in the buyout of the newly formed entity, Primary Insight LLC, are co-founders and managing partners David DeRose and Leighton Thomas, who will continue in their current roles at the helm of the company.
Additionally, The Hidary Group made a majority investment, while JP Morgan retains a minority interest and board seat.
"Having built Primary Insight into a formidable player in the primary research space these past four years, Leighton and I are looking forward to the next phase of growth,’ says DeRose. ‘The expertise and success of the Hidary’s along with continued support from J.P.Morgan will enable us to continue providing the advice and analysis that our clients have come to expect from us.’
The Hidary Group, run by brothers Murray and Jack Hidary, is teaming up with DeRose and Thomas for the second time. The Hidarys worked with them as executives at Vista Research, an analysis firm founded by The Hidary Group, which was later sold to McGraw Hill/Standard & Poors in 2005. Prior to that, the Hidarys founded EarthWeb and successfully took the company public in 1998 with an IPO.
