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April 26, 2019

FWM to take over Optima Fund Management

FWM Holdings, the parent of multi-family offices Forbes Family Trust (FFT) and LGL Partners, has agreed to buy private investment firm Optima Fund Management.

The companies did not reveal the transaction value.

Headquartered in New York, Optima focuses on alternative investments.

The business oversees around $2bn in assets, offering multi-manager and single-manager hedge fund programmes as well as custom advisory services.

The firm will serve as a wholly-owned unit of FWM post deal completion, which is anticipated in the third quarter of this year.

Optima founder D. Dixon Boardman said: “We believe this partnership with FFT will enable us to serve our clients even more effectively, as FFT has been an accomplished investor in the alternative space for many years.

“Additionally, our clients will have access to FFT’s comprehensive suite of products and services including sophisticated tax, estate and financial planning, asset allocation and consolidated reporting.”

Boardman will continue to serve as CEO of Optima, while assuming the role of FFT vice chairman.

FWM and FFT CEO and founding partner Keith Bloomfield said: “Optima also has deep relationships with top managers, which is essential for access to the most promising funds.

“We believe Optima delivers strategies that are well-positioned to perform as markets grow more volatile.”

Last November, FWM announced the acquisition of Florida’s AM Global Family Investment Office.

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