French Boutique backer iM Global Partner acquires U.S. asset manager Litman Gregory Wednesday, March 10, 2021
Laxman Pai, Opalesque Asia:
French asset manager iM Global has bought Litman Gregory, a San Francisco Bay Area wealth and asset management boutique as part of a plan to hit $100bn in assets over the next seven years.
Litman Gregory, based in Walnut Creek, California, has $4 billion in assets under management and overseeing $2.2 billion of assets under advisory. iM Global Partner, founded by Philippe Couvrecelle in 2013, had around $20 billion of assets under management as of December 2020.
The addition of Litman Gregory in the U.S. is expected to bring assets under management of the group to over $24 billion and will enhance distribution capabilities in the U.S. It further demonstrates iM Global Partner s commitment to continued cross-border growth in serving the needs of sophisticated investors, claimed a press release.
Investment Week is hosting its Global Emerging Markets Briefing at a pivotal time for investors as they start to position for the recovery from the Covid-19 pandemic, although risks remain.
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