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

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

Rating:First Eagle and Stadion's Backer Buys Again Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, February 10, 2015

First Eagle and Stadion's Backer Buys Again

Reported by Neil Anderson, Managing Editor

The $18-billion private equity firm behind First Eagle and Stadion is buying into a mutual fund servicer's parent.

Yesterday TA Associates managing director Roy Burns unveiled a deal for the Boston-based private equity giant to take a majority stake in Omaha-based NorthStar Financial Group. NorthStar's nine subsidiaries include: ETF strategist CLS Investments, mutual fund back office and distribution specialists Gemini Fund Services and Northern Lights Distributors, as well as Gemini Alternative Funds, Gemini Hedge Fund Services, Northern Lights Compliance Services, and Orion Advisor Services.

The pricing and terms of the deal were not disclosed, although TA confirms that "NorthStar's management team will remain significant owners following closing," which is slated for the second quarter. Raymond James is advising NorthStar on the deal, and Mayer Brown is providing legal counsel. Goodwin Procter is legal counsel to TA.

"TA Associates' considerable experience in financial services enables us to offer strategic counsel and resources to augment NorthStar's organic growth and pursue strategic acquisitions to build long-term value," Burns states.

TA managing directors Burns and Todd Crockett will both join NorthStar's board of directors.

All told, NorthStar has about 700 employees in Omaha: Chicago; Hauppauge, New York; Mill Creek, Washington; and Scottsdale, Arizona.

TA is not new to asset management. Both First Eagle and Stadion are current portfolio holdings for TA, and in days of yore TA was a backer of AIM (now part of Invesco) and AMG. 

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

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
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




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use