Asset Management Finance, an investment firm focused on the global asset and wealth management sectors, completed four new investments in December totalling approximately USD200m in invested capital.
These transactions bring AMF’s total capital invested to more than USD500m.
“We concluded 2009 with a flurry of exciting investments continuing our momentum at Asset Management Finance,” says Brian D. Finn, chief executive officer. “In a single month, we completed our first pure equity investment, our first investment in a private equity firm, our first European investment, and our first investment in a credit hedge fund manager. These new investments have not only broadened our geographic and asset class diversification, but have also demonstrated our flexibility in structuring tailored solutions.”
Since its inception in 2003, AMF has invested in 18 firms in the US, the UK and Australia, providing funding for recapitalisations, growth initiatives, management buy-outs, acquisition financing, owner liquidity and other strategic investment objectives.
In December, AMF completed its first European investment in UK independent fee-based wealth adviser Towry Law.
With its recent acquisition of the UK operations of Edward Jones in November 2009, Towry Law has over 250 wealth advisers serving in excess of 60,000 clients with approximately GBP5bn in assets under management or advice as of 31 December 2009.
Also in December, AMF, whose model has historically focused on limited-term revenue share deals, completed its first pure equity transaction, leading a USD100m investment in HighTower, an open-source financial services company serving high net worth clients. HighTower managed approximately USD15bn in assets as of 31 December 2009.
AMF made an additional year-end investment in a US-based credit hedge fund manager, providing capital in exchange for a limited-term revenue share interest. AMF also reported its first investment in a private equity fund management company that focuses on growth equity, buyout and distressed investments. The identities and amounts of these two new investments have not been disclosed.
