Pavilion Financial, an employee-owned investment services firm in Canada, has wrapped up the acquisition of Altius Holdings, the parent of Altius Associates and Altius Associates (Singapore), for an undisclosed sum.
The operations of Altius Associates have been integrated with LP Capital Advisors (LPCA), the California-based alternative asset advisory arm of Pavilion. The combined entity has been launched as Pavilion Alternatives Group.
Pavilion Alternatives Group will offer investment consulting services across alternative asset classes such as private equity, private credit, real assets and hedge funds, and will have over $60bn of assets.
The merged group will employ over 70 professionals across seven offices in Europe, Asia and North America.
The Pavilion Alternatives Group team will be headed by former LPCA president and managing director Donn Cox, and will also include former Altius Associates founder John Hess as head of global strategic initiatives.
Former Altius Associates co-CEOs Jenny Fenton and Brad Young will serve as chief operating and risk officer, and managing director and head of private markets advisory, respectively.
"Pavilion Alternatives Group will proudly carry forward the shared vision of its two founding firms to provide institutional clients with objective, thoughtful and well-researched advice on alternative assets, within a culture that is entrepreneurial, client-focused and attuned to our clients' fiduciary obligations," Cox said.
Senior management and many additional employees of Altius Associates will join their LPCA colleagues as shareholders of Pavilion as part of the deal.
The deal, which was announced in June 2016, is Pavilion's fifth transaction since 2010.