Aether Investment Partners and Seizert Capital Partners Expand Relationship with Northern Lights
SEATTLE, August 14, 2014 – As part of a recently announced agreement with Treasury Group Limited (“Treasury Group”) to form a global multi-boutique asset management platform, Northern Lights Capital Group (“Northern Lights”), a provider of strategic capital and resources to boutique asset management firms, is expanding its ownership in two of its most prominent affiliates, Seizert Capital Partners (“Seizert”) based in Birmingham, Michigan, and Denver-based, Aether Investment Partners (“Aether”). Both firms will continue to maintain operating control of their businesses following the transactions.
“Operational autonomy is a key element of Northern Lights’ philosophy,” said Jack Swift, Managing Director at Northern Lights. “Aether and Seizert are great investors and operators, and leaving them to run their businesses as they see fit is the best way to ensure that continues in the future.”
Seizert and Aether have experienced rapid growth and sustained investment success over the course of their partnerships with Northern Lights.
With help from Northern Lights’ resources, Seizert has grown from $800 million to $5.3 billion since 2009. “We are delighted to participate in their growth – but ultimately their success is attributable to the talent and integrity of these two investment managers,” says Paul Greenwood, Managing Director at Northern Lights “With Seizert, we have created a great partnership with our dedicated sales and marketing team, which we believe in combination with a strong investment culture, has helped them reach the next level.”
“We continue to be extremely pleased with our long-term partnership with Northern Lights,” said Gerry Seizert, Seizert founder. “They have been a critical part of our success in maintaining a client-focused firm. We are very excited to expand our relationship to now include Treasury Group.”
Seizert continued, “As with our investment process, risk management is a cornerstone of our organization and Northern Lights and Treasury Group have assisted us greatly in allowing us to minimize risk with regard to future ownership transitions, which we feel is a critical element of our clients’ overall experience. We all love what we do and this allows us to continue in a manner that is consistent with our process and past practices.”
Aether, a start-up backed by Northern Lights in late 2008, has successfully raised over $900 million across a series of natural resource-focused funds of funds and has become a leader in the real asset fund of funds space. Though Northern Lights is increasing its stake in Aether, the new arrangement will provide Aether employees with 100% of the carried interest generated by future funds. “We are gratified that after more than five years in partnership Aether has chosen to deepen its relationship with Northern Lights,” said Greenwood.
Troy Schell, Partner and co-Founder at Aether, added, “We have enjoyed our relationship with the Northern Lights team over the past six years, both personally and professionally, and we look forward to continuing that relationship for many years to come. We appreciate their creativity as we worked through this transaction – the end result we believe is a mutually beneficial model that simultaneously increases our team’s alignment with the interests of our clients. We couldn’t be more excited to increase our exposure to the funds we manage, through both increased personal investments and greater participation in the carried interest in future funds. To do so in a manner that allows us to continue to operate autonomously is truly a unique opportunity.”
Aether and Seizert will be two of 21 boutiques within the newly proposed structure for Northern Lights and Treasury Group. Together their combined assets under management will make up approximately 14% of the larger group of affiliates. Their desire to become more closely aligned with Northern Lights speaks to the success of their partnership over the past six years.
Exact details of the ownership structures were not disclosed. The Northern Lights and Treasury Group transaction is expected to close by the end of 2014.
About Northern Lights Capital Partners, LLC
Northern Lights Capital Group is dedicated to identifying and collaborating with leading boutique asset managers exhibiting exceptional investment skill with client-oriented business cultures. We apply our strategic resources, including operating capital, institutional distribution, access to seed capital, and operational expertise to help our partner companies excel. Northern Lights: Boundless Opportunities. Enlightened Investments. For more information please visit www.nlcg.com .
About Seizert Capital Partners, LLC
Founded in 2000 and headquartered in Birmingham, Michigan, Seizert Capital Partners uses a proven, fundamental investment discipline that seeks to drive core and value equity strategies in an effort to consistently outperform over the long term. As of June 30, 2014, Seizert managed $5.3 billion in assets. Additional information is available at www.seizertcapital.com.
About Aether Investment Partners, LLC
Headquartered in Denver, Colorado, Aether Investment Partners is a boutique investment management firm formed exclusively to manage real assets funds of funds. Aether’s mission is to be the preferred partner for investors who seek assistance in the implementation of real assets and related allocations in their portfolios and for fund managers who seek reliable, informed limited partners. For more information please visit aetherip.com
About Treasury Group Limited
Treasury Group (http://www.treasurygroup.com/) is a specialist investment and financial services business focused on boutique funds management companies. We seek to partner with talented investment professionals to deliver the highest standard of investment outcomes for investors. Through the capital we invest and range of services we provide, we support the growth and development of the boutiques with which we partner.
Certain statements in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties. You should not place undue reliance on our forward-looking statements. Forward-looking statements are based on the current assumptions and beliefs of management and are only expectations of future results. Actual results could differ materially from those projected in the forward-looking statements as a result of various risks and uncertainties. Forward-looking statements speak only as of the date on which they are made. Neither Northern Lights nor Treasury Group undertakes any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.
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