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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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NY Firm Announces Acquisition

Feb 03, 2013
Jing Chen

New York-based asset management firm Focus Financial Partners announced Thursday that it has acquired investment advisor The Portfolio Strategy Group.

Focus said in the statement that the partnership with Westchester-based PSG will expand its "presence in the very attractive and under-penetrated New York market" and will add $1 billion in client assets to the firm. No other terms were disclosed.

Focus provides wealth-management and investment services to independent advisors and had nearly $60 billion in client assets including 125 partnerships as of December 31.

Founded in 1990, PSG offers clients various investment strategies including hedge funds, fund of hedge funds and fixed-income securities.
Source: 

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