Alternative investment management team Evanston Capital Management’s (ECM) management team has completed the purchase of the minority equity stake owned by certain private investment funds affiliated with TA Associates (TA).
Alternative investment management team Evanston Capital Management’s (ECM) management team has completed the purchase of the minority equity stake owned by certain private investment funds affiliated with TA Associates (TA). The buyout was led by ECM’s senior management team, headed by Adam Blitz, CEO and Chief Investment Officer. The entire leadership team of ECM contributed new equity capital to finance the purchase and ECM has no outstanding debt obligations. Terms of the transaction have not been disclosed.
“We have enjoyed our strong partnership with TA and are excited to again be a fully independent, employee-owned asset management firm. This management buyout allows us to maintain our culture, our identity, and our strong alignment with the interests of our clients. We appreciate TA exiting its ECM investment through a transaction which minimizes disruption for our clients,” says Blitz. “TA has been an excellent partner since forging our relationship in 2010.”
Roger Kafker, TA Associates Senior Advisor and prior ECM Board Member adds: “Throughout our extended partnership with Evanston Capital’s management team, we have appreciated their diligence regarding manager selection, as well as their attention to push forth the firm’s clients’ needs and best interests first and foremost.”
Kirkland & Ellis LLP acted as legal advisors and Broadhaven Capital Partners, LLC acted as financial advisor to Evanston Capital Management in the transaction. Goodwin Procter LLP acted as legal advisor to TA.
