On January 4, 2024, Seward & Kissel client Alger Group Holdings, LLC announced that it was acquiring Redwood Investments, LLC.
Alger Group Holdings, LLC (“Alger”) announced on January 4, 2024 that it had agreed to acquire Redwood Investments, LLC (“Redwood”). Seward & Kissel served as counsel to Alger. Upon closing, Redwood will become a wholly-owned subsidiary of Alger and continue to operate independently under its co-founders, Jennifer Silver and Michael Mufson. Further terms of the deal were not disclosed.
Alger, based in New York City, is a privately-held, women-owned growth equity investment management firm providing institutional investors and financial advisors access to growth equity separate accounts, mutual funds, ETFs, and privately offered investment vehicles. As of March 31, 2023, Alger had approximately $17.7 billion in assets under management.
Redwood, based in Newton, Massachusetts, is a majority woman-owned registered investment adviser and growth equity management firm. Redwood has approximately $1.6 billion in assets under management.
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