Rosemont Takes Stake in Piedmont Investment Advisors

April 6, 2011

On April 4, 2011, mutualfundwire.com reported that private equity firm Rosemont Investment Partners had purchased a 30% stake in Piedmont Investment Advisors.


On April 4, 2011, mutualfundwire.com reported that Rosemont Investment Partners had purchased a 30% stake in Piedmont Investment Advisors through its Rosemont Partners II fund.  The remaining 70% continues to be owned by Piedmont employees.  Rosement is a West Conshohocken, Pennsylvania-based private equity firm.  Piedmont is a Durham, North Carolina-based institutional asset manager with approximately $3.4 billion under management, including through its mutual fund offering, the Corveus Strategic Equity Fund.  The terms of the deal, which is expected to close by the end of April, were not disclosed.

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Categories

Investment Manager Venture Capital, Mutual Fund Venture Capital, Transactions