Alpha Strategic was established in 2005 as an AIM-listed UK company to be a buy and hold investor in a portfolio of minority stakes in the operating revenues of a diversified group of privately owned asset managers.
In 2011 Alpha strengthened its capital base via a share placing with Northill Capital, an independent asset management business founded in 2010 with substantial financial backing from interests associated with the Bertarelli Family. In 2013, full control of Alpha transferred to Northill as part of a buy-out of the minority shareholders and subsequent delisting of Alpha from AIM.
Alpha typically acquires an interest equivalent to between 10% and 25% of a firm’s enterprise value and believes that economic alignment and management freedom is best achieved through a revenue share structure. We have a bias for alternative asset managers with a focus on a single asset class or investment style and a repeatable investment process and a long-term track record. Although we also consider long-only businesses we do not invest in distribution-led firms, wealth management businesses, fund of fund businesses or passive management firms.
Alpha seeks to partner with firms where the majority of the equity ownership is held by the management team. We favour firms with a collegial and collaborative style where tenure of employment and client relationships are highly valued and where risk management and regulatory compliance are recognised as critically important success factors.
Asset management firms of a certain size are more relevant to institutional clients and are more likely to grow and attract a diversified investor base. We also believe that asset management firms at the appropriate size level can accommodate a minority capital partner and have the financial strength to withstand a market downturn. Whilst there is no upper limit to the size of a potential partner firm, we prefer investing in firms with assets under management of between $1 billion and $10 billion.
Northill Capital is an independent, privately held asset management business founded at the end of 2010 with substantial financial backing from interests associated with the Bertarelli Family. Northill’s long-term strategy is to build a portfolio of high quality specialist asset management businesses. Assets under management in which Northill owns a majority interest total $38.2 billion*. Northill brings deep industry experience and expertise and the patient, long-term application of substantial private capital to support skilled investment professionals in the development of their business.* As at 31 March 2016
Alpha Strategic plc
1 Curzon Street
London W1J 5HD
+44 (0) 20 7222 3005
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