Team Liftouts, M&A, and Strategic Partnerships
We pioneered executive search 50+ years ago, and in 1993 the firm morphed into a liftout specialist, for investment and distribution/HNW teams. As such, our sole focus for the last 27 years has been on team liftouts and small acquisitions in the investment management industry. Overall, we completed over 70 transactions, along with track record and assets, with each of the groups still with the firms we placed them with.
Moving a group of people to a new firm is NOT a liftout, a concept often misunderstood in the industry. We define a liftout as bringing you a top decile team along with an immediately marketable track record and portable institutional assets. A liftout is profitable immediately and acts a pied piper for other asset classes and products, hiring multiple individuals is not. The teams we bring are never looking in the marketplace, as they are top performers and in most cases have worked together for over a decade.
As firms before and since the crisis are rethinking their strategic objectives around where they would like to grow and also where they are not competitive, more of our clients are looking to partner with others, sub-advise where appropriate or completely sell business lines to firms where the infrastructure and brand is already in place in specific instances.
During the quarantine, we helped one of our large global clients find a partner to restructure a significant part of their business, while simultaneously creating sub-advisory and joint new product development initiatives for the long-term (see press release below for details).
Robert Warren pioneered the liftout business in the early nineties and Institutional Investor Magazine ten years later labeled him the “liftout king”. Daniel Enskat has written a dozen books on the asset management industry and leads our proprietary quantitative and qualitative research efforts. The combination of data and research along with our global network and extreme confidentiality is key to each assignment.
Whether it is:
- searching for a new C-level investment or management position
- lifting out a top performing investment or distribution team
- acquiring assets or a boutique firm, or
- finding a strategic partner to restructure businesses and grow assets
Warren Enskat has been doing it, quietly, for over five decades.
AllianzGI and Virtus Investment Partners Announce Strategic Partnership in U.S. Retail Market
Virtus to assume responsibility for AllianzGI's U.S. open- and closed-end funds; AllianzGI's Value Equity team to join Virtus