Asset Management Finance will extend financing to Opus Capital Management for an 11-year period in exchange for a specified percentage of the money manager's gross revenue during that time, said Norton Reamer, AMF president and CEO. Terms of the deal were not disclosed.
The deal with AMF will allow Opus Capital, which manages more than $1 billion in institutional and high-net-worth assets, to maintain its independence while facilitating "our long-term strategy of sharing some equity with key Opus employees," Jakki L. Haussler, chairman and CEO of Opus Capital, said in a news release. According to the firm's ADV form on file with the SEC, Ms. Haussler holds 50% or more of Opus' equity, while Leonard A. Haussler, Opus president, holds at least 25%.
This is AMF's third deal since it was created more than two years ago, and the second this year. Mr. Reamer said there are signs that market acceptance of the "non-intrusive" financing arrangements AMF has pioneered is reaching a "tipping point." AMF expects to meet its target of doing eight deals in 2006, and the firm is looking to add more people to handle the deal flow, he said.