By a News Reporter-Staff News Editor at Investment Weekly News -- Northern Lights Capital Group ("Northern Lights"), a private equity firm with offices in Seattle and Denver, has agreed to a combination transaction with Treasury Group Limited ("Treasury Group" (ASX: TRG)), a publicly-traded company headquartered in Sydney, Australia. Northern Lights and Treasury Group will each contribute their businesses to a jointly owned company that will continue to provide strategic support to boutique asset managers worldwide. The combined company is expected to hold interests in boutique asset managers that collectively have more than $46 billion of AUM as of June 30, 2014.
In addition to creating an expanded global sourcing and distribution platform, the transaction is expected to provide both Northern Lights and Treasury Group increased diversification through its newly combined group of 21 boutiques across a wide range of asset classes. The merger is also expected to provide broader access to Europe, where both Treasury Group and Northern Lights currently have a presence. Upon closing, management and operations expect to be integrated and the business plans to operate as one group under the direction of a common Board of Directors. Shares of Treasury Group will continue to trade on the Australian Stock Exchange.
"Northern Lights and Treasury Group share very similar philosophies with both organizations committed to providing creative capital and working diligently to grow our companies," said Paul Greenwood, Managing Director at Northern Lights. "Through this partnership, we are bringing together the expertise and the resources to create a true global leader in the multi-boutique asset management space."
Andrew McGill, Managing Director and CEO of Treasury Group, said: "We are delighted to join with Northern Lights, transforming both businesses into an international multi-boutique asset management group. The partnership delivers significantly strengthened product distribution capability and builds a strong foundation, ideally positioning us for our next phase of growth across international markets."
Keywords for this news article include: Finance, Northern Lights Capital Group.
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