iM Global to acquire Litman Gregory Asset Management financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
French Asset Manager iM Global Partner to Acquire Litman Gregory iM Global will use the asset management firm, which has about $4 billion in assets under management, as an extension of its distribution subsidiary, iM Global U.S., and plans to keep the wealth management unit independent.
A French asset manager has made its first foray into the U.S. wealth management market. Paris-based iM Global Partner announced plans this week to buy Litman Gregory, a wealth management and asset management firm in Walnut Creek, Calif.
iM Global Partner will take a 100% stake in Litman Gregory, which is currently owned by 12 remaining shareholders, four of which are retired, and Rosemont Investment Partners, a boutique private equity firm in Larkspur, Calif. that took a minority investment in 2013.
Rosemont Sells Minority Equity Interest in Boston Common Asset Management
News provided by
Share this article
Share this article
CONSHOHOCKEN, Pa., Feb. 1, 2021 /PRNewswire/ Rosemont, a private investor in employee-owned asset and wealth management firms, announces the sale of Rosemont Partners III, LP s minority equity interest in Boston Common Asset Management, LLC. Rosemont s interest was acquired by Affiliated Managers Group, Inc. and employees of Boston Common.
Boston Common, a majority women-owned and employee-owned firm dedicated to sustainable and impact investing, was founded in 2003 by ESG pioneer Geeta Aiyer. Rosemont partnered with Boston Common in 2016, acquiring a minority stake through its third and final private equity fund. During its collaboration with Rosemont, Boston Common achieved several notable milestones, including nearly doubling its assets under management, expanding its global client base and hiring Allyson McDonald as its Chief Executive Officer.