Key Takeaways
- • Cantor Fitzgerald Asset Management (CFAM), a subsidiary of Cantor Fitzgerald, L.P., announced on March 3, 2014 that it will acquire California-based Fintan Partners, LLC, a fixed income absolute return fund of hedge funds.
- • Fintan's founder, Alexander Klikoff, will lead the business within CFAM, and the firm says it is keeping its investment team and advisory philosophy intact.
- • CFAM positions the deal as a way to expand its asset management platform, combining Cantor's capital markets expertise and distribution network with Fintan's research capabilities.
- • The release did not disclose the purchase price. A secondary web summary cites Fintan at approximately $3 billion, but this figure is not confirmed in the primary announcement.
Summary
Cantor Fitzgerald Asset Management (CFAM), a subsidiary of Cantor Fitzgerald, L.P. that provides investment and advisory solutions to global investors, announced on March 3, 2014 that it has agreed to acquire Fintan Partners, LLC, a California-based leading fixed income absolute return fund of hedge funds. The announcement was issued via PRNewswire. Fintan, led by founder Alexander Klikoff, will become part of CFAM. Financial terms of the transaction were not disclosed in the primary release.
Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co., said the transaction reflects the firm's objective to grow its asset management business and provide clients with investment opportunities under the Cantor umbrella. He said the addition of the Fintan team expands Cantor's position in asset management and would broaden the range of services available to clients.
Dave Goldfarb, Global Head of CFAM, said the combination of Cantor's capital markets expertise, distribution network and fixed income strength with Fintan's professionals and research capabilities would significantly strengthen the asset management platform. He said the two firms share a common investment approach and that CFAM is working to ensure a seamless transition and continued success of the Fintan Partners platform.
Klikoff said continuity of the Fintan team was a key factor in his decision to join Cantor. He added that Fintan is maintaining its team and investment advisory philosophy while deepening its resources and networks. Fintan was established in 2005 to provide alternative investment management and advisory services, according to a secondary profile of the firm.
Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co., said the transaction reflects the firm's objective to grow its asset management business and provide clients with investment opportunities under the Cantor umbrella. He said the addition of the Fintan team expands Cantor's position in asset management and would broaden the range of services available to clients.
Dave Goldfarb, Global Head of CFAM, said the combination of Cantor's capital markets expertise, distribution network and fixed income strength with Fintan's professionals and research capabilities would significantly strengthen the asset management platform. He said the two firms share a common investment approach and that CFAM is working to ensure a seamless transition and continued success of the Fintan Partners platform.
Klikoff said continuity of the Fintan team was a key factor in his decision to join Cantor. He added that Fintan is maintaining its team and investment advisory philosophy while deepening its resources and networks. Fintan was established in 2005 to provide alternative investment management and advisory services, according to a secondary profile of the firm.
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