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Monday, November 07, 2016|
Altegris Finds a Banker
The private equity backers of a liquid alternatives mutual fund shop have hired an investment bank to find a buyer for the fund firm.
Freeman & Co. CEO Eric Weber and spokespoeple for Aquiline and Genstar all declined to comment for this story. A spokesperson for Altegris did not return a call for comment.
Meanwhile, last week Aquiline and Genstar closed on the $768-million sale of TAMP AssetMark to Huatai Securities. Aquiline and Genstar bought AssetMark and Altegris together from Genworth in 2013 for a combined $412.5 million. (So even without the Altegris sale, the PE shops got a 23.02 percent annual return on their $412.5-million AssetMark investment.)
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