Pacific Current buys stake in index business

14-Dec-2015

By Wouter Klijn

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Pacific Current Group Рthe new name of the merged investment management businesses Treasury Group and Northern Lights Capital Group Рhas acquired a 23.4 per cent minority equity interest in California-­based Aperio Group.

Aperio provides a series of highly-customised index portfolios and manages $18.3 billion across various client strategies, including portfolios that are actively managed for tax, factor tilts and environmental, social, and governance (ESG).

Aperio has seen rapid growth in the last four years, increasing its funds under management from $2.8 billion of funds under management to more than $18.3 billion in 2015.

“Demand for Aperio’s products has accelerated over the past four years and we are excited to be partnering with such an exceptional and credible management team that has built and scaled its business by placing client interests ahead of their own,” Pacific Current chief executive Tim Carver said.

“This investment repositions our portfolio with a significant earnings stream and growth potential, underpinned by a business positioned in some of the fastest growing segments of the asset management industry.

“We informed the market that we would redeploy the proceeds from the sale of RARE Infrastructure into compelling investments when we can find them, and we are confident that with this investment, we have achieved this.”

The firm was founded in 1999 by Patrick Geddes and Paul Solli and has grown to nearly 50 staff.

The two founders have always maintained majority control and will continue to do so.

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