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Rating:A Tennessee Fund Firm Buys a New Jersey Subadvisor Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 10, 2014

A Tennessee Fund Firm Buys a New Jersey Subadvisor

Reported by Neil Anderson, Managing Editor

A Tennessee mutual fund shop is buying a subadvisor in New Jersey.

Today Mike West, senior partner and CEO at BPV Capital Management [profile], confirms that the Knoxville, Tennessee-based mutual fund shop has acquired Shrewsbury, New Jersey-based Skyview Investment Advisors. The terms of the deal were not disclosed.

Skyview does not run its own mutual funds, but it has subadvised two funds -- the Orinda Skyview Multi-Manager Hedged Equity Fund and the Orinda Skyview Macro Opportunities Fund -- for Orinda, California-based Orinda Asset Management. Frank Gregory, chief distribution officer for BPV, confirms that Skyview stopped subadvising the two Orinda funds on Monday.

As for BPV, it offers four mutual funds of its own.

Thanks to the deal, BPV will now have a six-person investing team in New Jersey, led by Skyview managing partner and chief investment officer Steve Turi. And Andrew Melnick, Skyview's chief compliance officer and investment strategist (also a managing partner) will become BPV's chief investment strategist.

"It's a perfect fit," West states. "We're growing rapidly thanks to our marketing and distribution expertise. However, now we have the opportunity to really build out our investment capacity. To achieve our strategic growth plan, we need more people who analyze and think the way we do, and the team at Skyview does just that."

Gregory tells MFWire that the Skyview team will serve as BPV's "internal CIO" (i.e. chief investment officer).

"They will help identify, monitor and implement subadvised portfolios, as well as potentially build portfolios in-house," Gregory says. 

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