MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, June 14, 2017 Tortoise is Considering a Sale Tortoise, a company that specializes in essential assets and income investing, is considering a potential sale of a majority stake in the Kansas-based company, CEO and co-founder Kevin Birzer said on Tuesday, according to the Wall Street Journal.
Gary Henson, president and board member at Tortoise, and Marty Bicknell, CEO at Mariner Holdings, could not be immediately reached for comment on the implications of the deal and what type of buyer they are looking for. Private-equity firms or conventional asset managers looking to diversify their product lineup may be among the list of interested buyers. The firm, founded in 2002, has 140 employees with approx. $20 billion in assets under advisement as of May 31, 2017, and is owned by Mariner Holdings LLC, a wealth and asset management company. Mariner has held a majority stake at Tortoise since 2009, and Mariner’s executives may expand its ownership stake through a deal with Tortoise. Tortoise offers closed-end funds, separate accounts, ETFs, and mutual funds in the energy investing sector. Tortoise may use the extra capital from a sale to make larger investments to start new funds. Printed from: MFWire.com/story.asp?s=56451 Copyright 2017, InvestmentWires, Inc. All Rights Reserved |
