The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Strategic Insight Finds a Buyer  Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 20, 2014

Strategic Insight Finds a Buyer

Reported by GI

Apparently, Strategic Insight's mutual fund insights were enough for one buyer to scoop it up.

The San Francisco private equity shop Genstar Capital today announced its purchase of Asset International, the parent of mutual fund industry data giant Strategic Insight, from PE firm Austin Ventures. Terms of the deal expected to close in July weren't disclosed.

MFWire reported on the anticipated sale of Strategic Insight last month.

Boutique investment bank Evercore spearheaded the search for a buyer, Jim Casella, chairman and CEO of Asset International, tells MFWire sister publication 401kWire. He declined to specifically identify other interested bidders, aside from saying they included "large, strategic companies" in the financial and businesses services space and a slew of PE shops.

Genstar has a financial services focus (along with healthcare, software and industrial technology), and Tony Salewski, Genstar's principal, states that the deal will help "build a global leader in financial data and marketing services."

Austin Ventures, through Asset International, bought Strategic Insight in 2009. Other AI financial services holdings include parts of mutual fund research shop FRC, and publications Chief Investment Officer, The Trade, Global Custodian and retirement plan trade magazines PlanSponsor and PlanAdviser.

Casella says senior management team is staying on board following the sale's close, and that price, Genstar's understanding of the financial services sector, and commitment to AI's growth plans (organically and through overseas acquisitions) made Genstar an attractive buyer.

"You'll see we'll continue to grow our footprint around the globe," Casella says. "Since we bought Asset International back in 2009 ... we have really looked to put together a global platform," through AI acquisitions such as Canadian and Australian financial services research shops Investor Economics and Plan for Life (both of which are now divisions of Strategic Insight).

"We will look to expand into some countries that we're not in right now. In that regard Genstar really understands those plans and are very supportive," Casella says.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use