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September 16, 2021

iM Global Partner buys stake in Asset Preservation Advisors

By Verdict Staff

iM Global Partner has acquired a 42% non-controlling stake in US-based independent investment advisory firm Asset Preservation Advisors (APA).

APA specialises in managing tax-exempt and taxable municipal bond portfolios for registered investment advisors, family wealth offices, financial advisors and institutional clients.

The partnership is expected to accelerate the expansion of the French investment manager in the US and expand its US-based product offering.

iM Global Partner CEO and founder Philippe Couvrecelle noted: “With $4.8bn assets under management, APA now ranks as the fourth largest independent municipal bond specialist in the US.”

As part of the strategic investment, APA has become part of iM’s global asset management and distribution network.

The firm is said to be the second US partner to join the network this year.

APA co-CEO and CIO Kevin Woods commented: “We see an incredible opportunity in the partnership with iM Global Partner to help continue our strong growth and build on our leading presence as an independent Municipal bond specialist.

“iM Global Partners offered APA a unique opportunity to continue our mission to provide excellence to our clients in the same way we have for more than thirty years, and now for decades to come.”

In July this year, iM bought a 45% stake in New York-based asset allocation specialist Richard Bernstein Advisors.

In March, the firm announced plans to expand its US distribution efforts with the acquisition and integration of Litman Gregory, a California-based wealth and asset management boutique.

Global Partner deputy CEO, US COO, and US Distribution head Jeff Seeley said that the partnership with APA would bring a range of excellent strategies to its growing and diverse fixed income product set.

Last year, M Global Partner agreed to purchase a 20% interest in equities manager Zadig Asset Management.

In 2019, the firm acquired a 40% stake in California-based value equities manager Scharf Investments.

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