Comprehensive M&A data with integrated detailed company information

Seaport to exit FTJ FundChoice
Posted on Thursday, 12 April 2018 12:26
Omaha, Nebraska-based NorthStar Financial Services is acquiring FTJ FundChoice, which specialises in turnkey asset management services, for an undisclosed sum.

Slated to complete in the second quarter of 2018, the deal will provide an exit for New York-based private equity firm Seaport Capital, which bought the target in 2012.

Further details were not announced.

As of 30th June 2017, NorthStar had assets under management and administration totalling USD 610.00 billion.

The buyer has more than 825 employees providing advisory, accounting, human resources, marketing, legal, and sales services to businesses across the financial sector.

It operates through fund distribution and compliance group Northern Lights, and Blu Giant, which offers Electronic Data Gathering, Analysis, and Retrieval conversion, among other subsidiaries.

NorthStar is a portfolio company of buyout group TA Associates Management, which has made over 490 investments worth nearly USD 20.00 billion since it was founded in 1968.

Based in Hebron, Kentucky, FTJ FundChoice was established in 2001 and now has around USD 10.00 billion in assets under administration.

The company claims to enable financial advisors to build stronger relationships with customers by providing services like trade reconciliation, account administration, fee billing, and performance reporting.

Following the acquisition, its managed account capabilities will be made available to NorthStar clients using Orion’s communities platform.

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 215 deals targeting a portfolio management firm announced worldwide since January 2018.

The largest such transaction by far was Cayman Islands-incorporated life and pension assurance fund specialist Phoenix’s USD 1.33 billion rights issue.

It was followed by life insurer GWG’s purchase of an 82.0 per cent stake in alternative asset manager Beneficient Company for USD 800.00 million.

Other targets in 2018 include Jarislowsky Fraser of Canada and Russia-based Upravlyayushchaya Kompaniya Navigator, in deals valued at USD 799.04 million and USD 665.45 million, respectively.

© Zephus Ltd