BNP Paribas Investment Partners is to tie-up with US private equity firm Northern Lights Ventures, according to the Financial Times. BNPP is to take a minority stake in NLV and will invest in its Northern Lights Capital Partners fund.
The fund reportedly has a portfolio of ten US financial advisory and management boutiques with $2 billion in assets and is about to make its debut investment outside the US, with the purchase of an unnamed UK boutique with $700 million under management.
BNPP’s investment will increase the fund’s available capital to $50 million and the deal will allow the French bank to distribute NLV’s portfolio companies’ products.
NLV’s portfolio of investment management and advisory firms includes Aether Investment Partners, Almeric Capital Partners, AlphaShares, BME Investment Partners, Elessar Investment Management, Phocas Financial, Seizert Capital Partners and TAMRO Capital Partners.
D.C.