In July 2021, iM Global Partner bought a minority stake in Richard Bernstein Advisors (RBA), an asset allocation specialist and ETF strategist, and Barings unveiled a $166-million acquisition facility to support iM Global Partner's expansion.
On June 1, 2021, iM Global Partner closed on its planned acquisition of Litman Gregory. The deal brings iM Global its own U.S. wealth management platform and a multi-manager, subadvised mutual fund business.
Philippe Couvrecelle founded iM Global Partner (iMGP, fka iM Square) in 2013. The Paris-based firm is backed several European asset managers, including: Eurazeo (iMGP's principal shareholder), Amundi, IK Investment Partners, and Luxempart.
In addition to offering several of its own mutual funds, iMGP is primarily a distribution ally to, and minority investor in, boutique asset managers. (Some of those boutiques offer their own mutual funds or ETFs or subadvise others', and some subadvise funds for iMGP.) The iMGP folks pitch themselves as "permanent capital" that lets the boutiques remain independent while being supported on the distribution side.
iMGP has made minority investments in several U.S. boutiques, including:
-Richard Bernstein Advisors (RBA), an ETF strategist and asset allocation specialist; 45-percent stake acquired in July 2021;
-Scharf Investments, a U.S. value equity shop; stake acquired in 2019;
-Dynamic Beta Investments, a liquid alts shop; stake acquired in 2018;
-Sirios, a U.S. long/short equity and U.S. credit shop; stake acquired in 2018;
-Dolan McEniry, a U.S. credit shop; stake acquired in 2016; and
-Polen Capital, a U.S. and global growth equity shop; stake acquired in 2015.
iM Global also bought a stake in a European equity shop, Zadig Asset Management, in 2020.
Jeff Seeley Deputy CEO, Head of U.S. & Wealth Management, iM Global Partner (iMGP)