On August 13, 2012, ai-cio.com reported that private equity firm Friedman, Fleischer & Lowe had purchased a majority stake in investment-outsourcing firm Strategic Investment Group.
On August 13, 2012, ai-cio.com reported that private equity firm Friedman, Fleischer & Lowe had purchased a majority stake in Virginia-based Strategic Investment Group. Strategic is an institutional-investment outsourcing firm with approximately $28 billion in assets under management on behalf of corporate pensions, foundations, public pensions, endowments, and insurance accounts. San Francisco-based Friedman has two funds, with approximately $811 million and $1.5 million in assets under management, respectively. New York-based investment bank Kudu Advisors acted as advisor to Strategic Investment Group in connection with the deal. The transaction became effective as of July 31, 2012.
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