Pacific Current Group’s Capital Investment in Independent Financial Partners Group, LLC

Carter Ledyard advised Pacific Current Group on the deal

Pacific Current Group Limited (ASX:PAC) (Pacific Current Group, or PAC), a global multi-boutique asset management firm, is pleased to announce it has completed an investment in Independent Financial Partners Group, LLC (IFP) in Tampa, Florida.

PAC will initially acquire a 10 percent interest in IFP in exchange for funding US$1.075m of a US$2.575m total commitment. PAC has the ability to acquire up to 15 percent of additional equity in IFP at a later date, either through additional capital calls or through the purchase of additional founder equity.IFP is a privately held, family-owned firm founded in 2000 by CEO William (Bill) Hamm, Jr. Its mission is to improve the lives of both the financial advisors it supports and its advisors’ clients by providing the tools and support needed to maintain and grow their advisory practices.

IFP is currently a US “hybrid RIA platform” that provides middle office services to independent Registered Investment Advisors (RIAs). IFP is preparing for the launch of its own broker-dealer in the first half of 2019, which will allow it to use multiple back office providers, including custodial services, and to broaden the market for its services.

Carter Ledyard advised Pacific Current Group with a team including Alison Dreizen (Picture) and Matt James.

Involved fees earner: Alison Dreizen – Carter Ledyard & Milburn Llp; Matthew James – Carter Ledyard & Milburn Llp;

Law Firms: Carter Ledyard & Milburn Llp;

Clients: Pacific Current Group Limited;

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Author: Ambrogio Visconti