Alpha Strategic, a UK-based affiliate of asset management group Northill Capital, has entered into an agreement to invest in Premium Point Investments, a US-based alternatives firm.
Premium Point Investments is a US$1.7 billion asset management firm specializing in asset backed securities and US residential mortgage-based investments.
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Alistair McKay, CEO of Alpha Strategic, said: "Backed by significant private capital, Alpha is a committed partner focused on the long-term development and growth of the asset managers in which we invest. Premium Point is exactly the type of highly skilled and focused manager with whom we look to partner, and they have created a business with substantial value and significant growth prospects."
Anilesh Ahuja, CEO and CIO of Premium Point Investments, said: "This transaction provides us with a strategic partner at an exciting time in the growth of our firm. We believe there are significant investment opportunities as the U.S. housing finance system continues to shift towards private capital."
PL Advisors advised Premium Point on the deal.
The financial terms of the transaction have not been disclosed.
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