RCAP Holdings to Acquire First Allied

June 24, 2013

On June 12, 2013, RCAP Holdings, LLC announced that it has signed a merger agreement to acquire First Allied Holdings Inc.

On June 12, 2013, RCAP Holdings, LLC announced that it has entered into a definitive merger agreement to acquire all of the outstanding equity of First Allied Holdings Inc., a San Diego, California-based retail financial services firm that provides broker/dealer, investment advisory, and asset management services.  After the transaction First Allied, along with its affiliate, The Legend Group, and their subsidiaries will operate autonomously under their current management structure and brands as part of the RCAP Holdings’ family of companies.  RCAP is a New York-based holding company with approximately $10 billion in assets under management.  As part of the transaction, private equity firm Lovell Minnick Partners will sell its majority interest in First Allied and retain a minority interest in the combined company.  Additionally, First Allied’s senior management and other employee shareholders have provided a $10 million equity commitment to RCAP.  Other terms of the transaction were not disclosed.

To read the press release, please click here.


Investment Manager M&A, Transactions