Easterly has picked a minority equity stake in James Alpha Advisors, a New York-based boutique asset manager focusing on global REITs and liquid alternative portfolio solutions.
Financial details about the deal were not divulged.
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The deal offers Easterly, an asset management holding company, operational control of James Alpha Advisors.
With 25 employees, James Alpha Advisors has offices in Colorado and Florida in addition to New York.
Easterly managing principal Darrell Crate said: “The rationale for products such as those offered by James Alpha Advisors has always been to create greater portfolio diversification, untethered to the swings of broad global markets and uncorrelated with major indices.
“This is a firm with an offering designed for all market environments, especially the very one we are now in, and we look forward to partnering with them.”
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By GlobalDataCrate will assume the role of CEO of James Alpha Advisors as part of the deal.
He will work alongside James Vitalie, who has resigned as the CEO but will continue as president. Vitalie will now report to Crate.
Besides, James Alpha Advisors will form a new board that will include major shareholder Denis Nayden, Crate, and Greene who will chair the board.
Nayden stated: “We believe Easterly is the ideal long-term partner to take advantage of market opportunities, build scale and accelerate the growth of the business.”
The fund portfolio of James Alpha Advisors includes the James Alpha Global Real Estate Investments Fund, James Alpha Managed Risk Domestic Equity Fund, and James Alpha Structure Credit Value Fund.
