ACA Group’s Combination with Foreside

Kirkland & Ellis advised ACA, while Willkie Farr & Gallagher advised Genstar and Foreside on the deal.

ACA Group, the leading governance, risk, and compliance advisor in financial services, announced its combination with Foreside Financial Group, LLC, a provider of distribution and compliance services to clients across the asset management industry.

Genstar Capital, a leading private equity firm, invested in Foreside earlier this year. Genstar will be the majority owner of the combined business as a result of acquiring a controlling interest in ACA from Starr Investment Holdings, LLC upon completion of the transaction. The transaction is subject to customary closing conditions and is expected to close in the first half of 2022.

ACA is the leading governance, risk, and compliance (GRC) advisor in financial services empowering clients to reimagine GRC and protect and grow their business. ACA’s innovative approach integrates consulting, managed services, and our ComplianceAlpha® technology platform with the specialized expertise of former regulators and practitioners and a deep understanding of the global regulatory landscape.

Foreside is a provider of distribution and compliance services to clients across the asset management industry, including investment advisors, registered broker-dealers, and traditional and alternative asset managers. Foreside services products including open- and closed-end funds, exchange-traded products, commodity pools, and private placements.

Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses.

Jefferies LLC served as the exclusive financial advisor to ACA. Raymond James & Associates, Inc. served as financial advisor to Genstar and Foreside.

The Kirkland team was led by corporate partner Leo Greenberg (Picture) and associates Matthew Benedetto and Patrick O’Connor, and tax partner Vincent Thorn. 

The Willkie deal team was led by partners Jeffrey Poss and Manuel Miranda, and included associates Thomas Sharkey, Anna Martini G. Pereira and Madison Wiles-Haffner.

Involved fees earner: Matthew Benedetto – Kirkland & Ellis; Leo Greenberg – Kirkland & Ellis; Vincent Thorn – Kirkland & Ellis; Anna Martini G. Pereira – Willkie Farr & Gallagher; Manuel Miranda – Willkie Farr & Gallagher; Jeffrey Poss – Willkie Farr & Gallagher; Thomas Sharkey – Willkie Farr & Gallagher; Madison Wiles-Haffner – Willkie Farr & Gallagher;

Law Firms: Kirkland & Ellis; Willkie Farr & Gallagher;

Clients: ACA Group; Foreside Financial Group; Genstar Capital;