Money management consultant Alpha Financial Markets Consulting acquired U.S. alternative investment consultant Lionpoint Holdings for $90 million in a cash-and-share deal, a spokeswoman said.
The transaction, which closed Friday, is expected to grow Alpha's exposure to alternative investment market and its footprint in North America with Lionpoint's 125 clients across private equity, real estate and infrastructure managers and private debt funds.
Lionpoint was acquired from its founders Nick Moore and Jonathan Balkin, who were majority owners, and minority owner Blackstone.
The deal is financed by Alpha FMC in stages, with $73.6 million in cash from the firm's cash reserves. The rest is funded from new ordinary shares in the company, representing up to 9% of Alpha FMC's issued share capital, a news release Friday said.
Messrs. Moore and Balkin are set to remain with the company following the acquisition.
"Lionpoint brings a complementary, blue-chip client base, a focus on leading technology solutions and key vendor partnerships, and a strong global management team aligned with Alpha FMC's own culture," Euan Fraser, Alpha FMC's CEO, said in the release. "The transaction is a significant step on our journey to doubling the business in four years, and we look forward to working with Lionpoint and growing our businesses together."