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Friday, July 10, 2015

A New England Fund Shop Buys In Cali

News summary by MFWire's editors

A New England mutual fund shop with $6.16 billion in AUM just bought an emerging markets asset manager on the other side of the country.

Per multiple filings with the SEC (here, here, here, and here), on June 30 Burlington, Vermont-based Champlain Investment Partners [profile] bought Irvine, California-based New Sheridan Advisors. There's no word yet on pricing and terms of the deal.

Champlain appears to be significantly larger than New Sheridan. As of March 31, Champlain claimed $6.16 billion in AUM. Per Champlain's most recent form ADV filed on February 27, it has about 25 employees, not including any clerical workers.

Per New Sheridan's last form ADV, filed on March 10, it has three employees, again not including clerical staff, and $84.2 million in AUM.

Champlain's website lists a dozen partners in the firm, led by two managing partners: chief investment officer Scott Brayman and chief operating officer Judith O'Connell. New Sheridan's website lists two executives, both PMs: Russell Hoss and Richard Hoss.

In terms of mutual funds, per BrightScope New Sheridan had $2.8 million in mutual fund AUM as of May 2015. Morningstar estimates that the New Sheridan Developing World Fund has about $2.6 million. And New Sheridan also subadvises three of Euro Pacific Asset Management's seven mutual funds.

As for Champlain, per BrightScope the Vermont-based mutual fund shop had $2.23 billion in mutual fund AUM as of last month. $1.5 billion of that, per Morningstar, is in the four-star, silver-rated Champlain Small Company Fund

Edited by: Neil Anderson, Managing Editor

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