NEW YORK--(BUSINESS WIRE)--Aksia LLC ("Aksia”) today announced that it has entered into an agreement to acquire TorreyCove Capital Partners LLC (“TorreyCove”). The transaction is expected to close in the first half of 2020. Financial terms were not disclosed.
The combination of Aksia and TorreyCove brings together two specialist investment research and advisory firms serving the needs of institutional investors in alternative investments. Aksia specializes in private credit and hedge fund strategies whereas TorreyCove specializes in private equity and real asset strategies.
The combined firm will advise on over $160 billion in alternative assets with more than 240 professionals globally, including over 150 professionals focused on investment research and risk management.
Following the transaction, Aksia will remain headquartered in New York, with offices in San Diego, London, Tokyo, Boston, Athens, and Hong Kong. TorreyCove’s five Managing Directors will be welcomed as partners of Aksia and assume senior management positions.
Clients are expected to benefit from larger and deeper research teams, broader geographic reach, pan-alternatives expertise, and a focus on technology solutions to access a wide range of research on investments as well as portfolio, accounting, and risk reporting. Experienced portfolio advisory teams as well as Aksia’s pan-alts operational due diligence capabilities will round out support available for client alternatives programs.
Aksia was advised by Orrick, Herrington & Sutcliffe LLP and TorreyCove was advised by Hogan Lovells US LLP.
Aksia employs 177 professionals to provide specialist alternative investment research and portfolio advisory solutions to institutional investors globally. Aksia advises on over $85 billion of client alternative allocations including more than $8.5 billion of committed assets under management and offers the expertise and implementation capabilities to provide institutions with flexible solutions designed to meet their needs and complement existing internal resources. The firm represents pension plans, insurance companies, government-related institutions, endowments, foundations and superannuation funds. Aksia’s MAX research and portfolio technology platform allows clients to access manager research as well as portfolio accounting and risk transparency. Aksia is 100% employee owned and maintains offices in North America, Europe, and Asia, with headquarters located in New York City. For more information, please visit www.aksia.com.
TorreyCove is an alternative investments advisory and consulting firm with 66 professionals specializing in private equity, real assets, and private credit strategies globally. TorreyCove’s assets under advisement is over $75 billion and its clients include pension plans, financial institutions, endowments, foundations, and family offices. The firm creates custom tailored investment solutions for its clients based on investment return targets, risk tolerances, and liquidity requirements. TorreyCove’s investment team has helped clients invest or commit over $100 billion in private equity, real assets, and private credit fund investments and co-investments. TorreyCove is 100% employee owned and is headquartered in San Diego with an office in Boston. For more information, please visit www.torreycove.com.