Opinionated Transactions
Transactions

"HISTORY OF ACCOMPLISHMENT."

All told, our team has completed in excess of 210 strategic transactions and financings, establishing us as one of the leading banking teams to the asset management industry.

Mergers and Acquisitions

We possess a depth and breadth of experience within our team, as we have lived all aspects of this industry: as strategists, as operators, as consultants, and as marketers. We are not afraid to suggest change, take advantage of opportunities and be non-traditional in our thinking.

Sales and Divestitures

While we seek to maximize economic value for our clients, our primary focus is on optimizing outcomes. We emphasize pursuing the right strategic path, including remaining cognizant of organizational and governance issues.

Restructurings

We have deep experience in re-engineering and designing capital structures, as well as a legacy of innovation as regards issues relating to inter-generational transfer of ownership, succession, and capital raising.

Timeline of Advisory Transactions
SELECT PRE-GRAIL TRANSACTIONS*
MAR 93
Sale of The New England Companies (AUM $51 B) to Reich & Tang
FEB 94
Formation of PIMCO Advisors LP master limited partnership (AUM $58 B)
JUN 95
Sale of Miller, Anderson & Sherrerd (AUM $33 B) to Morgan Stanley
JAN 98
AMVESCAP purchase of LGT Asset Management (AUM $55 B)
OCT 98
AXA Investment Managers acquisition of Barr Rosenberg Investment Management
SEP 99
Sale of Global Asset Management (AUM $14 B) to UBS AG
NOV 99
Allianz Group purchase of PIMCO Advisors LP (AUM $256 B)
APR 00
Chase Manhattan acquisition of Robert Fleming Holdings (AUM $99 B)
AUG 00
Sale of Glenwood Capital Investments (AUM $2 B) to Man Group
JUN 01
Sale of Symphony Asset Management (AUM $4 B) to Nuveen Investments
JUN 01
Royal Bank of Canada's sale of RT Capital Management (AUM $20 B) to UBS AG
SEP 01
Deutsche Bank acquisition of Zurich Scudder Investments (AUM $278 B)
MAY 04
Recapitalization of Numeric Investors (AUM $8 B) by TA Associates
NOV 04
Sale of a minority interest in AQR Capital Management (AUM $12 B) to Affiliated Managers Group, Inc.
GRAIL TRANSACTIONS
JUN 05
Legg Mason purchase of Citigroup Asset Management (AUM $437 B)
JUN 05
GMO's strategic sub-advisory relationship with John Hancock (AUM $8 B)
MAY 06
Sale of a 65% interest in RS Investments (AUM $12 B) to Guardian Insurance
JUN 06
Bank of Ireland Group's strategic partnership with Paul Capital Partners
OCT 06
Sale of FrontPoint Partners (AUM $5.5 B) to Morgan Stanley
DEC 06
Legg Mason divested its Puerto Rico mutual fund family to Santander Asset Management
DEC 06
Munder Capital Management teams with Crestview and Grail for MBO (AUM $25 B)
MAR 07
LPL Financial Services acquisition of Pacific Life Co.'s Broker-Dealers (2,200 advisors)
APR 07
State Street acquisition of Palmeri Fund Administrators (AUM $32 B)
JUL 07
Recapitalization of Offit Hall Capital (AUM $20.3 B)
OCT 07
Buchanan Street Partners sale of a majority interest to TCW (AUM $1.3 B)
JUL 08
Perkins, Wolf, McDonnell and Company sale of a 50% interest to Janus Capital Group
(AUM $10 B)
* The advisory transactions represent a select list of Putnam Lovell NBF's and Grail Partners LLC's' transactions. Donald H. Putnam, Managing Partner of Grail Partners, was co-founder and CEO of Putnam Lovell NBF from 1987 through 2005.
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