PORTLAND, Maine--(BUSINESS WIRE)--Foreside Financial Group LLC (“Foreside”) announced today the acquisition of Beacon Hill Fund Services (“Beacon Hill”) located in Columbus, Ohio. Financial terms of the transaction were not disclosed. The acquisition is expected to close on July 31.
In operation since 2008, Beacon Hill provides a variety of business management services to both US and non-US investment managers. With a staff of 22 professionals, Beacon Hill provides services to 19 clients with 144 funds and $28.6 billion in assets.
“The acquisition of Beacon Hill brings together some of the industry’s most experienced professionals and enhances our management, services, and opportunities for growth. Foreside and Beacon Hill share a strategic vision to broaden our scope of products and services, and to enhance our core services for investment managers and their funds, in both the U.S. and offshore markets”, commented Richard Berthy, CEO of Foreside.
Added scale was an important factor in making the acquisition. Foreside and Beacon Hill provide many of the same products and services, such as an array of distribution services, fund officer services and regulatory and compliance consulting services.
“Investment managers in every market are increasingly seeking a focused, objective and independent partner to provide advice and customized solutions to all aspects of management, governance, and distribution to help grow their businesses. The combination of Foreside and Beacon Hill brings a robust organization that works in concert with investment managers to build, manage, and grow their products and franchises. We believe these capabilities and our unique focus truly differentiate Foreside in the global marketplace”, commented David Whitaker, President of Foreside.
About Foreside
Foreside delivers a range of distribution and compliance services to clients in the investment management industry. Foreside services open- and closed-end funds, exchange traded products, commodity pools, private placements, investment advisers and registered broker-dealers.
Foreside’s service offerings include distribution, registered representative licensing, fund chief compliance officer and treasurer services, and regulatory and compliance consulting. Foreside distributes over $800 billion of product through its broker-dealers and its solutions enable clients to focus on asset management without sacrificing distribution and compliance best practices. Foreside is headquartered in Portland, Maine and has offices in Berwyn, Pennsylvania, Boston, Massachusetts, and Columbus, Ohio. For more information on Foreside’s suite of services, please visit www.foreside.com.
