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Rating:Minneapolis Boutique Sold to the Brits Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 16, 2012

Minneapolis Boutique Sold to the Brits

News summary by MFWire's editors

A Minneapolis-based soon-to-be fund shop has sold itself, in a bid to transition to new leadership.

Neal St. Anthony of the Star-Tribune reports that the British firm Northill Capital is buying a majority stake in Minneapolis-based Riverbridge Partners, a private investment company that is getting set to launch its first mutual fund in January.

Riverbridge is a 25-year-old company with 28 employees and about $4 billion in AUM. The founder, John Peyton, and several other principles are retiring, and the sale is a bid to transition control of the company to the next generation.

The mutual fund that Riverbridge plans to launch will be a version of its all-cap growth strategy.

Riverbridge "is the fifth of about ten investment boutiques in which Northill is investing to build a diversified portfolio of well-managed, high-quality investment businesses," St. Anthony writes.

Riverbridge founder and chairman Mark Thomson told the paper that the sale is a way to let the retiring partners cash out and younger partners buy in.

"Many firms never solve this problem, which is why they are either sold or collapse when the founder departs," said Thomson. 

Edited by: Chris Cumming


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