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June 9, 2021

Foreside buys Golden Bear’s compliance consulting practice

By Verdict Staff

Foreside Financial Group, which offers compliance services to asset and wealth managers, has acquired the compliance consulting practice of Golden Bear Consulting Group .

Financial terms of the deal have not been disclosed.

Golden Bear is a boutique regulatory compliance consulting firm established in 2015.

The firm provides a suite of compliance consulting solutions to hedge funds, private equity funds, emerging managers, and wealth managers.

Forside said that the acquisition complements its private funds practice and bolsters its West Coast footprint.

Following the transaction, Golden Bear’s team will join Foreside and will continue to operate from Southern California.

Commenting on the deal, Foreside president David Whitaker said: “Golden Bear has ensured client success by helping them meet regulatory requirements through creative and practical compliance solutions that instill confidence in their investors.

“Golden Bear shares our values of providing consistent quality of service with integrity, accountability, and innovation to its portfolio of clients. We are proud to welcome them to our team.”

Golden Bear founder and CEO Aman Ahluwalia said that joining Foreside will expand the company’s capabilities of its investment advisor consulting practice.

“I am certain this move will allow us to serve as trusted partners to our existing clients for years to come,” added Ahluwalia.

The latest deal marks Foreside’s seventh acquisition since 2019.

The firm, majority-owned by PE firm Lovell Minnick, recently divulged plans to acquire compliance, consulting, and FINOP practice Capital Markets Compliance.

Its other acquisitions include NCS Regulatory Compliance, Compliance Advisory Services, ICSGroup, Capital Markets Compliance, Quasar Distributors and JG Advisory Services.

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