Alternative investments law firm MJ Hudson announced Monday the acquisition of investment consulting firm Allenbridge and outsourced fund services provider Tower Gate Capital.
Terms of the deals are not being disclosed. Both deals closed in September.
Allenbridge has more than £120 billion ($150 billion) in assets under advisement. Tower Gate Capital provides regulatory and compliance services to 20 managers and consultants and co-manages 12 funds.
With these acquisitions, MJ Hudson will provide “advice and a fully integrated operating infrastructure to more than 300 asset managers, managing in excess of £200 billion” and support “the activities of more than 100 institutional investors, together investing in excess of £500 billion,” across private equity, venture capital, hedge funds, credit, real estate and infrastructure, said a news release from MJ Hudson.
Tower Gate CEO Bobby Console-Verma and Allenbridge CEO Odi Lahav will remain CEOs of their respective divisions in the merged group, an MJ Hudson spokeswoman said in an e-mail. MJ Hudson’s CEO, Matthew Hudson, will serve as the group CEO. All Allenbridge and Tower Gate employees are joining MJ Hudson.
The Tower Gate name will be phased out by Dec. 31. The Allenbridge name will be retained for an “undetermined while longer,” the spokeswoman wrote.
“Our goal is to build the pre-eminent advisory and infrastructure business in alternative assets,” said Mr. Hudson in the news release. “This strategy is driven by three strong trends: the continuing growth in importance of alternative assets in investment portfolios, the increasing information requirements of fund investors and fund managers, and the mounting pressure from investors, regulators and legislators for a more sophisticated and well-governed manager and fund infrastructure.”
