Tennessee-based BPV Capital Management has bought Cain Brothers Asset Management (CBAM), a Florida-based institutional investment manager.
Following the deal, CBAM will become a wholly-owned subsidiary of BPV and the combined assets of all BPV companies will increase to $1.93bn.
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BPV Capital Management CEO Michael West commented, "This partnership really achieves two goals. We not only provide our current clients access to a greater range of sophisticated fixed income and equity strategies previously available only to wealthy individuals or institutions. But we also give CBAM’s existing clients — and the institutional market at large — access to our risk-aware investment strategies and expertise."
CBAM’s Indianapolis-based CEO Tim Sheehan will be appointed as senior vice president of BPV post deal.
Sheehan said, "Our risk-aware strategies and overall investment philosophy fit perfectly with BPV’s approach. With this combination, our experienced team of investment professionals will gain access to BPV’s established and sophisticated infrastructure." In addition to marketing and distribution support, the CBAM portfolios will benefit from enhanced risk management strategies and software designed by the company’s Shrewsbury, NJ office, a recent acquisition of BPV.
Moreover, all six members from CBAM’s Orlando and Denver offices, including four portfolio managers, will remain with the new subsidiary.
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