Private equity firm Warburg Pincus has put an undisclosed amount of money into investment advisor The Mutual Fund Store. The companies said the investment would help with expansion efforts. Specific terms of the transactions were not disclosed. Kansas City-based The Mutual Fund Store was formed in 1996.
Warburg Pincus, a leading global private equity firm and The Mutual Fund Store today announced they are partnering to further expand and develop The Mutual Fund Store operations. The Mutual Fund Store is the first and largest nationally-branded registered investment advisor focused on hard working Americans. Warburg Pincus will bring its investment and expertise to the company that will continue to be run by founder and CEO Adam Bold and his management team. Terms of the transactions were not disclosed.
The Mutual Fund Store delivers independent fee-only investment advice to clients in more than 70 company-owned and franchised stores across the U.S. and its nationally syndicated radio program, “The Mutual Fund Show”, which Bold hosts.
“We started The Mutual Fund Store more than 15 years ago to provide fee-only, independent investment advice to hard working Americans. Our message has resonated with this group of people who have been largely ignored by the traditional financial services industry,” said Adam Bold, founder of The Mutual Fund Store. “We are very excited to partner with Warburg Pincus. This gives us the opportunity to grow and provide more hard working Americans the level of service and expertise our clients have come to expect.”
Michael Martin, Managing Director and Co-Head of Warburg Pincus’ Financial Services Group, said, “Through a commitment to an underserved market and an alignment of interests with its customers, The Mutual Fund Store has built a loyal following across the U.S. We believe there is a tremendous opportunity to build on The Mutual Fund Store’s success in providing sound investment advice to the mass affluent market. We are excited about partnering with Adam and the rest of The Mutual Fund Store team to accelerate the company’s growth plans.”
Morgan Stanley & Co, LLC served as financial advisor and Bryan Cave LLP served as legal advisor to The Mutual Fund Store. Wachtell Lipton Rosen & Katz and Wilkie Farr & Gallagher served as legal advisors and Ernst & Young provided accounting diligence support for Warburg Pincus.
About The Mutual Fund Store
Founded in 1996, Kansas City-based The Mutual Fund Store is the first and largest nationally-branded investment advisor focusing on the mass affluent customer. By specializing in mutual funds, The Mutual Fund Store is able to differentiate itself from other investment advisors by providing a level of fee-only, independent investment advice that is often available to only the very wealthy. Clients get tailored investment advice with a focus on individual needs and risk tolerance, to save for retirement, a new home or a child’s college education.
The Mutual Fund Store delivers investment advice through more than 70 regional stores across the U.S. and its nationally syndicated radio show, “The Mutual Fund Show”, which airs in 60 markets across the U.S. and is hosted by The Mutual Fund Store’s founder, Adam Bold.
About Warburg Pincus
Warburg Pincus is a leading global private equity firm. The firm has more than $30 billion in assets under management. Its active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $35 billion in over 650 companies in more than 30 countries.
Current and past financial sector investments include, Arch Capital Group, Aeolus Re, DIME Bancorp, HDFC, Kotak Mahindra, Mellon Bank, National Penn Bancshares, Primerica, Renaissance Re, Sterling Financial, and Webster Financial.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai.