MutualFundWire.com: An AM Network Invests In a $4.8B-AUM Shop

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Wednesday, September 15, 2021

An AM Network Invests In a $4.8B-AUM Shop

A serial backer of asset managers is betting on another U.S. shop, this time a $4.8-billion-AUM firm specializing in muni bond portfolios.

Jeffrey Kent "Jeff" Seeley
iM Global Partner
Deputy CEO, Head of U.S.

Today Philippe Couvrecelle, CEO and founder of iM Global Partner [profile], confirms that iM Global Partner has purchased a 42-percent stake (non-controlling) in Asset Preservation Advisors (APA). Berkshire Global Advisors advised Atlanta-based APA on the deal, while Oppenheimer & Co. Inc. advised Paris-based iM Global. Taylor English Duma provided legal counsel to APA, while Seward & Kissel did so for iM Global.

APA is the eighth boutique (seventh in the U.S.) that iM Global has invested in over the past six years and the second in 2021 alone. (Additionally, iM Global also recently outright its own U.S. wealth management and manager-of-managers mutual fund business earlier this year.) iM Global serves as a distribution ally to, and permanent capital for, the boutiques it invests in. It now represents about $37 billion in AUM.

Jeff Seeley — deputy CEO of iM Global, U.S. chief operating officer, and head of U.S. distribution — lauds APA for their "exceptional reputation, competitive long-term performance and growing US distribution."

"The firm is uniquely positioned to capitalize on the increasing investment opportunities in the municipal segment, as US clients continue to seek attractive tax-exempt strategies," Seeley states.

Kevin Woods, co-CEO and chief investment officer of APA, describes the iM Global - APA deal as "an incredible opportunity" for continued growth at APA.

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