Middle market buyout shop Seaport Capital has acquired FTJ FundChoice, a provider of technology and services to investment advisors. Terms were not disclosed. FTJFC will continue to be led by President Dean Cook and COO Phillip Markgraf, the company said in a press release.
FTJ FundChoice, LLC (FTJFC), a provider of technology and services to investment advisors, announced today that it has been acquired by Seaport Capital, a middle-market private equity firm. The existing management team and the selling shareholder also invested in the transaction. Terms of the transaction were not disclosed. FTJFC will continue to be led by President Dean Cook and COO Phillip Markgraf.
FTJ FundChoice provides technology-enabled asset management, electronic trading and back office administrative services to investment advisors. The company has grown considerably in recent years as it continues to add assets under management and investment advisors to its platform. The Cincinnati-based firm had approximately $2.5 billion in assets under management and administration as of June 30, 2012.
“The company has meaningful growth opportunities in the future,” said FTJFC President Dean Cook. “I am excited to partner with a well respected firm like Seaport, who recognizes the value and potential of FTJFC, its product and service offering, and its employees. The company has ambitious plans in the coming years and I look forward to continuing to help build a great company.”
Seaport Capital Principal Bob Tamashunas agreed, saying, “We believe the company is well positioned going forward as it continues to augment its products and services to its customers. We look forward to partnering with the company as it continues to build on its platform to service and exceed its clients’ expectations.”
About FTJ FundChoice
FTJ FundChoice is a turnkey asset management provider offering technology-enabled asset management and back office administrative services, including trade management and reconciliation, portfolio modeling, record keeping, performance reporting, fee billing, and web-based account services. FTJ provides access to over 1,500 no-load and load-waived mutual funds, including most of the leading mutual fund managers in the country. The company also provides a wide array of third-party asset allocation services to investment advisors. FTJ FundChoice’s service offering allows investment advisors to outsource their administrative duties, freeing the advisor’s time for client relationship development and asset management. For additional information, visit www.ftjfundchoice.com .
About Seaport Capital
Founded in 1997, Seaport Capital provides capital to middle market companies in the communications, information and business services, and media sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport’s extensive investing experience enables it to develop winning strategies; its relationship and resources help achieve them. The firm seeks to invest $5 to $25 million of equity capital in each portfolio company.