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

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

Rating:PE Bets On a $7B-AUM ETF Strategist Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, December 1, 2021

PE Bets On a $7B-AUM ETF Strategist

Reported by Neil Anderson, Managing Editor

A private equity company is betting on a $7 billion-AUM ETF strategist, as planned. The asset manager is going through a leadership change at the very top.

Yesterday, Dave Odenath (operating partner at Altamont Capital Partners), Keoni Schwartz (managing director with Altamont), and Sam Gaynor (managing director with Altamont), confirmed that Altamont has made a strategic investment in Charlotte, North Carolina-based Horizon Investments, LLC [profile]. (The deal was first unveiled back in September.) Altamont is now the majority owner of Horizon.

Meanwhile, also as planned, Robbie Cannon, founder and CEO of Horizon, is becoming a strategic advisor to the firm and handing the reins to president John Drahzal, who now serves as CEO. (Horizon's CIO, CFO, and GC and CCO are all staying put.) Meanwhile, Odenath is joining Horizon's board of directors as executive chairman.

BMO Capital Markets advised Horizon on the deal. The terms of the deal have not been publicly disclosed.

Drahzal describes Altamont as "a tremendous match" for Horizon and hints that the deal will help take Horizon "to the next level." Odenath, for his part, praises the Horizon leadership team.

"Their efforts will form the core of a strategy that will leverage new distribution approaches to bring Horizon's goals-based investment framework to a much larger marketplace," Odenath states.

"This is just the beginning of a larger, multi-step investment and distribution-driven plan that will accelerate the expansion of Horizon's reach and the advisor community's understanding and usage of goals-based approaches," Schwartz states.

Gaynor hints at Horizon M&A down the line.

"We are actively looking at additional acquisitions to the platform to further expand Horizon's capabilities and offerings," Gaynor states. 

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