GTCR dives deeper into NY finance
Summary
Buying into the New York finance market in a bigger way, Chicago private equity firm GTCR has agreed to acquire Clifton Park, N.Y.-based LeverPoint Management and merge it into its Ultimus Fund Solutions portfolio company. Hamilton Lane, a big publicly traded company that invests in private markets, is selling LeverPoint, according to a statement from the firms today. After the combination, Ultimus will provide its administration, accounting and other services to investment fund managers who oversee $220 billion in assets, the statement said. No financial terms for the transaction were provided and the companies didn’t immediately respond to requests for comment. GTCR is bolstering the Ultimus footprint in New York at a time when fund managers are increasingly focused on having a major presence in and around New York City in an effort to attract more of the institutional investor dollars flowing through that worldwide hub for finance.
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