A group of investors led by New York-based private equity firm Sagewind Capital and merchant-banking firm Berenson has acquired Virginia-based wealth management software firm The Athene Group for an undisclosed sum.
Other investors involved in the deal were Insight Venture Partners and Salesforce Ventures.
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Sagewind managing partner Steven Lefkowitz said: “Athene has developed industry-leading technology that creates significant time and resource savings for wealth advisers.
“We look forward to supporting the Athene team as they execute on their growth strategy, including investment in sales and marketing and the addition of new technological capabilities.”
Athene CEO Sanjeev Kumar and COO Kripa Shetty will retain their existing roles.
Meanwhile, The Hackett Group’s ex-principal Michael Crawford has assumed the role of executive chairman at Athene.
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By GlobalDataIn this role, Crawford will manage the market expansion plans of the wealth tech provider.
Berenson managing director Mohammed Ansari said: “Sanjeev, co-founder Kripa Shetty and the talented team at Athene have built Skience, the industry’s preeminent wealth adviser desktop, using subject matter expertise and relationships built over decades.
“Mike brings a strong track record of building client service and go-to-market teams to deliver transformative results for enterprise clients.”
Established in 2001, Athene also operates in the Indian city of Bangalore.
