Altius to be sold to Canada's Pavilion Financial

Financial details were not disclosed. Altius claims to manage and advise a total of about $30.5 billion of private market investments as of the first quarter of 2016.

According to a statement, Pavilion will combine Altius with its subsidiary, LP Capital Advisors, to create an enlarged US-based alternative assets consultancy. The new globally focused unit, to be known as Pavilion Alternatives Group, will preserve the senior leadership of both Altius and LP, offering advisory services across private equity, private credit, real assets and hedge funds.

"We firmly believe that our partnership with Pavilion will provide our clients with access to greater resources that will enhance our already strong advisory and research capabilities, while maintaining our entrepreneurial culture and client-service standards," said Brad Young, Altius' co-CEO and head of investments. "As part of Pavilion Alternatives Group, we will have additional resources to recruit top talent and invest in the development of our service offering and expansion of our global footprint."

Founded in 1998, Altius operates its PE advisory and separate account management firm via offices in Singapore, the UK and the US. It currently manages three fund-of-fund vehicles, namely Altius Associates Private Equity Fund (AAPEF), AAPEF II and Altius Real Asset Fund.

The deal represents Pavilion's fifth acquisition since 2010 and an extension of the firm's broader strategy to consolidate alternative asset advisory assets globally. On closing of the acquisition, Pavilion is expected to have about $60 million of alternative assets under advisement.

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• Topics
• North America
• Buyouts
• Fund-of-funds
• Altius Associates
• Singapore
• Canada
• M&A
• Asia