Pavilion Financial Corporation is to acquire Altius Holdings Ltd, a global private markets advisory and an account management firm, with offices in the UK, US and Singapore, to create a new investment alternatives group.
The North American based, employee-owned, investment services firm, announced in a statement today, that it plans is to acquire Altius Holdings Ltd, the parent company of UK and Singapore-based Altius Associates Ltd.
The transaction is expected to close in the third quarter of this year, subject to regulatory approval.
Pavilion will combine the operations of Altius Associates with LP Capital Advisors (LPCA), the alternative asset advisory subsidiary of Pavilion, based in Sacramento, California.
The move will create a larger global alternative asset class advisory platform within the firm with an expanded geographic footprint that includes additional UK and Singapore bases.
Following regulatory approval the combined organisation will be rebranded as Pavilion Alternatives Group and represent Pavilion’s alternative asset classes platform. Total alternative assets under advisement is US$60bn, out of a total US$570bn under management by Pavilion.
The new Pavilion Alternatives Group will consist of about 70 investment professionals located in London, UK; Singapore; and working across offices in North America (Sacramento, Richmond, Boston, Salt Lake City and Montreal).
Fifth acquisition since 2010
Daniel Friedman, president of Pavilion, welcomed the acquisition, the company’s fifth since 2010. “Altius has an excellent reputation in providing alternative asset consulting to a global clientele over a span of nearly 20 years,” he said. “Altius and LPCA already share common values and a proven client service approach and they complement each other geographically.”
Donn Cox, managing director of LPCA, said: “Combining forces with Altius will provide our clients with additional resources in North America, significant global reach into Europe, Australia and Asia, and enhanced service offerings and solutions.”
Founded in 2006, Pavilion Financial Corporation is an employee-owned investment services firm offering advice and execution services to institutional and other investors. It has grown organically and through acquisition and strategic recruitment of generalist and specialist teams.
LPCA was established in 2004 and was acquired by Pavilion Financial Corporation in 2014.