On September 3, 2016, American Beacon Advisors, Inc. announced that it had reached a definitive agreement with Cypress Capital Group, Inc. to acquire a controlling interest in Crest Investment Partners, LLC.
The sale is expected to be finalized by the end of October and is subject to the completion of customary closing conditions.
American Beacon Advisors, Inc. (“American Beacon”) is a provider of investment advisory services to institutional and retail markets. Crest Investment Partners, LLC is an independent registered investment advisory firm providing quantitative, fundamentally-drive investment solutions to institutional and individual clients.
Silver Lane Advisors LLC initiated the transaction and advised Crest. Colchester Partners LLC advised American Beacon.
The terms of the transaction were not disclosed.
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