Private equity firm TA Associates
has acquired a stake in Arnhold and S. Bleichroeder Holdings Inc.
, the parent company of fund firm Arnhold and S. Bleichroeder Advisers LLC
. The founding family shareholders will remain the majority owners of ASB Holdings. Arnhold and S. Bleichroeder is best known for the First Eagle Funds. John Arnhold, one of the firm's founders, says the transaction is expected to help retain and attract new talent to Arnhold and S. Bleichroeder.
Arnhold and S. Bleichroeder Holdings, Inc. (“ASB Holdings”) announced today a plan to provide for substantial equity incentives for its key investment and operational personnel. This will be accomplished with the assistance of private equity firm, TA Associates, which has acquired a minority interest in ASB Holdings, the parent company of Arnhold and S. Bleichroeder Advisers, LLC, a leading mutual fund and investment advisory firm.
The founding family shareholders will remain the majority owners of ASB Holdings and are committed to maintaining the firm’s corporate culture focusing on investment performance and client service. Founded in 1968, TA Associates is one of the oldest and largest private equity firms in the U.S. and has a long history of investing in asset management firms.
According to John P. Arnhold, Co-President and Co-CEO of ASB Holdings, “This is an important step in the evolution of our firm, and one which will permit us to continue to pursue our unique style of value investing. The transaction will allow us to facilitate the retention and attraction of key associates.”
Commenting on the announcement, P. Andrews McLane, Senior Managing Director of TA Associates, said, “We are pleased to be affiliated with Arnhold and S. Bleichroeder. We have great confidence that this venerable firm with its long history of success serving the investment needs of both individuals and institutions in the U.S. and abroad will continue to flourish in the years ahead.” Mr. McLane and Roger B. Kafker, a Managing Director of TA Associates, have joined the Board of Directors of ASB Holdings.
Arnhold and S. Bleichroeder Advisers manages $45 billion in assets and has a long and rich tradition as an investment manager, tracing its heritage back to the mid 19th century. The firm provides investment management services for the First Eagle family of mutual funds, and for a number of institutional and high net worth clients through hedge funds and separately managed accounts. The firm’s investment strategies include international value, global value, event-driven value and merger arbitrage.
TA Associates is one of the most experienced private equity firms, managing over $10 billion in capital from offices in Boston, Menlo Park and London. TA has made investments in 380 companies, including a number of asset management companies such as Affiliated Managers Group, AIM Management Group (now AMVESCAP), Jupiter Investment Management Group and Numeric Investors.
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