Lovell Minnick-backed Foreside acquires Golden Bear

The deal marks Foreside's seventh acquisition since 2019.

Foreside Financial Group, which is majority-owned Lovell Minnick, has acquired the compliance consulting practice of Golden Bear Consulting Group. The deal bolsters its offerings to private equity funds, hedge funds, emerging managers and wealth managers, while also expanding its West coast presence.

PRESS RELEASE

PORTLAND, Maine – June 8, 2021 – Foreside Financial Group, LLC (Foreside), a provider of governance, risk management, and compliance service and technology offerings to clients in the global asset and wealth management industry, today announced the acquisition of the compliance consulting practice of Golden Bear Consulting Group, LLC (Golden Bear), a boutique regulatory compliance consulting firm based in Newport Beach, California.

Founded in 2015, Golden Bear partners with private equity funds, hedge funds, emerging managers, and wealth managers, to offer a robust suite of compliance consulting solutions. This acquisition complements Foreside’s private funds practice while also expanding its West Coast presence.

“Golden Bear has ensured client success by helping them meet regulatory requirements through creative and practical compliance solutions that instill confidence in their investors,” said David Whitaker, president of Foreside. “Golden Bear shares our values of providing consistent quality of service with integrity, accountability, and innovation to its portfolio of clients. We are proud to welcome them to our team.”

“In joining with Foreside, we are able to deepen and expand the capabilities of our investment advisor consulting practice with a partner that shares our client-centered approach,” said Aman Ahluwalia, founder and CEO of Golden Bear. “I am thrilled about what is in store for our clients, and how much they will benefit from this new relationship. We have worked hard to develop long-lasting and quality relationships with our clients.  I am certain this move will allow us to serve as trusted partners to our existing clients for years to come.”

Golden Bear’s employees will join Foreside as part of the acquisition and will continue to operate from Southern California.

For Foreside, which is majority-owned by PE firm Lovell Minnick, this marks the seventh acquisition since 2019 as it continues to add to and strengthen various parts of its business, from consulting services to technology offerings. The other acquisitions include NCS Regulatory Compliance, Compliance Advisory Services, Quasar Distributors, ICSGroup, Capital Markets Compliance, and JG Advisory Services.

Financial terms of the Golden Bear transaction were not disclosed.

About Foreside Financial Group

Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion of product through their 17 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com.

About Golden Bear Consulting Group

Golden Bear Consulting Group was founded in 2015 in response to the growing demand and need for customized, comprehensive compliance solutions for firms in the United States and abroad. Golden Bear Consulting Group focuses on servicing and addressing the regulatory compliance needs of a broad and diverse set of established and startup clients including investment managers, investment advisers, registered investment companies, hedge funds, private equity funds, family office funds, real estate funds, debt and credit funds, wealth managers, ETF sponsors, and venture firms. Golden Bear Consulting Group is headquartered in Newport Beach.