BPV Capital Management
] just made its second acquisition in four months, yet it's still on the prowl.
"There's no question we'll stay active," BPV CEO Mike West
, pointing to joint ventures, partnerships, and subadvisory relationships, as well as outright purchases, as possibilities for the Knoxville, Tennessee-based mutual fund shop.
Yesterday West unveiled
a deal that nearly septupled BPV's assets under management, to $1.93 billion. That deal brings Orlando, Florida-based Cain Brothers Asset Management (CBAM
) -- and its seven-person team and $1.65 billion in AUM, mainly for institutional clients in three SMAs -- into the BPV fold, pushing BPV's head count to 42 in total and giving BPV significant institutional capabilities. The CBAM deal follows BPV's purchase of Shrewsbury, New Jersey-based Skyview Investment Advisors
"Our business model is somewhat atypical. Most asset managers start small," building out their infrastructure after they've already accumulated significant AUM, West says. "We've built significant infrastructure. Now we're building out our capabilities [and AUM] around that."
"We're focused on acquisitions like this and on continuing to built out our distribution area," West adds, point to the sales force doubling BPV also unveiled
yesterday. "We'll be hiring distribution people for a while now."
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