Rosemont Partners acquired a 30% interest in Allegiance Capital. Terms of the deal were not disclosed, said David D. Silvera, a Rosemont Partners managing director. The stake was acquired from two unidentified private investors; one partners interest was purchased in its entirety, while the other retained a residual stake and a seat on the Allegiance board. Neither partner was active in Allegiances operations or investment process.
Rosemont Partners will provide vendor consulting services, said Bob Southard, an Allegiance managing director at Allegiance. The firms core fixed-income process will not change at all, Mr. Southard said.
Allegiance manages $2.8 billion, mainly for institutional investors.