Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:For 361's First Deal, Florence Buys a Quant Shop Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 05, 2016

For 361's First Deal, Florence Buys a Quant Shop

Reported by Neil Anderson, Managing Editor

Tom Florence is about to make 361 Capital's [profile] first ever acquisition. And he's open to doing more.

Thomas Florence
361 Capital LLC
Chief Executive Officer
Florence confirms that Denver-based 361 is buying quantitative equity manager BRC Investment Management (which has a behavioral-finance-driven investing style), which once subadvised a mutual fund for 361. Greenpoint Village, Colorado-based BRC's headquarters is only a mile from 361's headquarters.

The deal is expected to close by October 31, shortly after the planned liquidation date for the BRC Large Cap Focus Equity Fund.

Though pricing and terms of the deal were not disclosed, Florence confirms that it is an equity deal and that the principals of BRC will receive equity in 361 (which is private-equity-backed but majority-owned by 361 employees). John Riddle, managing principal and chief investment officer of BRC, will join 361's board and become co-CIO of 361 alongside current CIO Cliff Stanton.

The eight BRC team members in the Denver area will all join 361 as part of the deal, Florence confirms. 361 already has 26 people, so it will grow to 34 once the deal closes, and it will have over $2 billion in AUM.

BRC was one of the subadvisors on 361's first mutual fund, the 361 Absolute Alpha Fund, which debuted at the end of 2010. That fund was later shut down as 361 shifted towards funds managed in-house or with single subadvisors and away from multi-subadvisor funds.

Florence praises the BRC team as "very seasoned, very experienced," with more than 90 years of combined investment experience. He's already working on a mutual fund version of one of BRC's strategies, and he aims to launch the fund by the end of 2016.

"They've got a small cap product that has an eight-year track record," Florence tells MFWire. "We've already filed for a mutual fund."

"They do have other strategies that definitely could fit into mutual fund form or an SMA or UMA for the advisor world," Florence adds. "Nothing's planned right now."

Florence also sees the deal boosting 361's efforts in another distribution channel.

"They're an institutional business. Their clients are consultants and institutions," Florence says. "We're excited to be able to expand into the institutional market ... From a distribution standpoint it's great!"

Florence says he's open to making more acquisitions, too.

"Our business strategy is to grow organically, but if we opportunistically find situations that make sense from a growth standpoint, we're certainly going to look at them," Florence says.

"We definitely expect to be launching more funds next year," Florence adds. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. Nicsa webinar - Luxembourg: The FinTech Gateway to Europ, May 18
  2. MMI webinar - How Wealth Firms Can Attract and Retain the Modern Investor, May 18
  3. ICI webinar - New Research Shows "First-Mover" Is a Universal Investor Response — Not Unique to Open-End Mutual Funds, May 18
  4. MFDF webinar - Mutual Fund Director Compensation: The MPI Annual Survey (2022), May 19
  5. 2022 ICI Leadership Summit, May 25-26
  6. ALFI Roadshow to New York, May 25
  7. 2022 IDC Fund Directors Workshop, May 26
  8. Irish Funds Annual Global Funds Conference 2022, May 30-31
  9. WealthManagement Edge, May 31 - June 3
  10. MFDF 2022 Fund Governance and Regulatory Insights Conference, Jun 8-9
  11. 28th annual Expect Miracles East Coast Classic, June 9
  12. 2022 Sohn Investment Conference, June 9
  13. IDC webinar - Cybersecurity for Fund Boards: The Current Landscape, June 9
  14. MMI webinar - Driving Business Value with Artificial Intelligence & Data, June 15
  15. MFDF webinar - Key Takeaways From Morningstar's 2021 Annual Fund Fee Study, June 16
  16. MFDF Director Discussion Series - Open Forum (Chicago), June 21
  17. 2022 MMI Emerging Asset Managers Forum, June 23
  18. MFDF In Focus: Capitol Hill, A Conversation with Congressman Bryan Steil, June 28
  19. Financial Planning INVEST, Jun 28-29
  20. MFDF webinar - Differentiating Mutual-Fund-to-ETF Conversions, July 19
  21. MFDF Director Discussion Series - Open Forum (New York), July 20
  22. 2022 MMI Distribution Leadership Forum, Jul 20-21
  23. MFDF webinar - Fund Boards' Oversight of Investment Performance, July 28
  24. MFDF webinar - Performance, Perception and Manager Selection, September 14
  25. 2022 ICI Tax and Accounting Conference, Sep 18-21
  26. 5th annual Expect Miracles Atlantic Coast Classic, October 3




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use