Next generation steps into management roles, positioning the firm for future success
BOSTON, MA – [April 17, 2018] –Anchor Capital Advisors, a value-focused asset manager, and wealth advisory firm, announced the completion of its previously-announced management buy-out from Boston Private Financial Holdings. Through this transaction, Anchor’s management team reassumed majority ownership and control of their firm. Lincoln Peak Capital, a private investment firm that serves as a long-term equity partner for high-quality asset management firms, assisted Anchor in effecting the buy-out and will hold a passive minority stake in the firm going forward.
The repurchase reflects the culmination of a long-term succession process instituted to position the firm for future success and achieve better alignment with Anchor’s long-term vision and strategy. As part of the transition, Bill Rice, Jr. has become CEO in addition to his ongoing responsibilities as Chief Investment Officer. Mark Bergen has become President in addition to Chief Operating Officer. Bill Rice, Sr., Anchor’s founder and former CEO, has assumed the title of Executive Chairman and remains fully engaged in the firm’s activities.
“We are excited to continue our focus on protecting and growing the capital of our clients, supported by the same management team that helped to build Anchor Capital,” said Bill Rice, Jr., Anchor Capital CEO. “This transaction is a testament to our optimism about Anchor’s future and enhances our team’s alignment with the interests of our clients. It is a privilege to lead Anchor into the next phase of our growth and development as a firm.”
“Anchor Capital was founded with a commitment to hiring and developing talented professionals who strive to provide consistent performance and a high level of service to our clients. The transaction demonstrates the long-term commitment of the firm’s experienced portfolio managers, analysts, executives, sales and service teams, further emphasizing what we believe to be Anchor’s core values of strength and stability. We will continue to invest in our people as well as our infrastructure, including investments in technology, marketing, and enhanced investment management operations and training,” Rice added.
Anchor’s investment team, most of whom are now key stakeholders of the company, remain committed to managing value-oriented investment strategies, which include six core legacy strategies and the continued incubation of an additional three: Select Dividend, Focused Value and Concentrated Compounders. Anchor’s breadth of value strategies now offers a wide array of solutions for both individual and institutional clients.
“These strategies draw on Anchor’s experience in small and mid-sized company research,” said William Hickey, Portfolio Manager, Anchor Capital. “We are excited about our ability to provide strategies that allow a varied array of client types to fine-tune their investment objectives. Interest in these differentiated strategies has been favorable, and we believe further strengthens Anchor Capital’s commitment to value investing.”
Headquartered in Boston, MA, Anchor Capital currently manages approximately $9 billion in assets serving both individual and institutional investors across nine equity and fixed income investment strategies.
About Anchor Capital Advisors
Anchor Capital Advisors LLC is a Boston-based investment management firm which has been serving clients for over thirty years. Anchor clients include public funds, endowment funds, family offices and individuals. The firm prides itself on its disciplined approach to seeking and investing in undervalued securities.
About Lincoln Peak Capital
Lincoln Peak is a Boston-based private investment firm focused exclusively on partnering with high-quality asset management firms. Lincoln Peak serves as an experienced institutional partner for entrepreneurial management teams that seek to address ownership transitions and wish to gain or retain their independence. Lincoln Peak’s investments are designed to create the proper incentive alignment among a firm’s key constituents, increasing the firm’s probability of realizing its long-term potential. Lincoln Peak currently has partnerships with five firms that collectively manage more than $65 billion in assets.