Acquisition leverages and builds upon firm’s relationships and
expertise in alternative assets, substantially enhancing client service
capabilities for general partners in the financial sponsor community and
institutional investors worldwide
NEW YORK & LONDON--(BUSINESS WIRE)--
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today
announced that it has acquired BearTooth Advisors (BearTooth), an
independent advisory firm providing strategic advisory and placement
agency services to alternative investment managers. The transaction
closed yesterday.
BearTooth was founded in 2014 by Bob Brown, Andy Lund, Jim McGee, and
Riverstone Holdings LLC and operates as a division of Riverstone Capital
Services LLC and Riverstone Europe LLP. BearTooth’s Partners include
Brown, Lund, McGee, and Cristina Forcina Westermann, who collectively
have more than 60 years of experience at leading alternative investment
management firms and traditional placement agents. Through this unique
combination of agency and in-house operating experience, BearTooth seeks
to provide general partner clients with a more strategic alternative to
legacy agency options. Since its formation, BearTooth has been engaged
as lead advisor on more than 20 mandates, including traditional
follow-on fundraises, new product extensions, new firm and fund
formations, direct private equity placements, and broader strategic
advisory services.
Following the closing of the transaction, the BearTooth team will form
the Private Funds Group, a new service offering within Houlihan Lokey’s
Corporate Finance business. The group will be jointly led by Brown,
Lund, and McGee and will comprise 17 personnel based in London and New
York.
“The establishment of the Private Funds Group both underscores and takes
advantage of two of Houlihan Lokey’s key strengths: a breadth and depth
of financial sponsor relationships that is perhaps unmatched in
financial services and our prescient recognition of the prevalence and
increasing importance of alternative sources of capital,” said Scott
Adelson, Co-President and Co-Head of Corporate Finance. “The new group
is a logical extension of that expertise and market knowledge, and
combined with our other successful services such as Illiquid Financial
Assets and Capital Markets, we are positioning ourselves to be the
leader in client service in this important and growing asset class,” he
added.
“When forming BearTooth, we set out to provide general partners with a
more strategic alternative to legacy fundraising options, believing that
certain industry dynamics had created a unique opportunity to do so.
Since then, we have found the opportunity itself to be more significant,
growing more rapidly than originally thought. We look forward to joining
Houlihan Lokey and the opportunity to offer our unique value proposition
to both new and existing clients,” said Brown. "In addition, we look
forward to expanding our relationship with the limited partner community
to address its evolving needs and interests across a broader range of
investment alternatives,” he continued.
“The BearTooth team possesses a unique blend of expertise as both
traditional placement agents and advisors that, along with their
exceptional client focus and entrepreneurial success in building an
outstanding business at BearTooth, makes them an excellent cultural fit
with our firm. As we continue to enhance client service to general
partners and limited partners in the rapidly evolving private equity
primary and secondary markets, the new group brings to Houlihan Lokey a
powerful service offering that builds upon and complements our other
capabilities, particularly our Illiquid Financial Assets practice,” said
John Mavredakis, Global Head of the Financial Sponsors Group.
About Houlihan Lokey
Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in
mergers and acquisitions, capital markets, financial restructuring,
valuation, and strategic consulting. The firm serves corporations,
institutions, and governments worldwide with offices in the United
States, Europe, the Middle East, and the Asia-Pacific region.
Independent advice and intellectual rigor are hallmarks of the firm's
commitment to client success across its advisory services. Houlihan
Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the
No. 1 global restructuring advisor, and the No. 1 global M&A fairness
opinion advisor over the past 20 years, according to Thomson Reuters.
About Riverstone Holdings
Riverstone Holdings LLC is an energy and power-focused private
investment firm founded in 2000 by David M. Leuschen and Pierre F.
Lapeyre Jr. with approximately $38 billion of capital raised. Riverstone
conducts buyout and growth capital investments in the exploration &
production, midstream, oilfield services, power, and renewable sectors
of the energy industry. With offices in New York, London, Houston, and
Mexico City, Riverstone has committed over $37 billion to more than 150
investments in North America, Latin America, Europe, Africa, Asia, and
Australia. Visit www.riverstonellc.com
for more information.
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Source: Houlihan Lokey, Inc.