iM Global Partner makes strategic investment in Asset Preservation Advisors

iM Global Partner, a global asset management network, has expanded its US-based product offering by acquiring a strategic non-controlling stake of 42 per cent in Asset Preservation Advisors (APA), an independent investment advisor specialised in managing high quality tax-exempt and taxable municipal bond portfolios for registered investment advisors, family wealth offices, financial advisors, and institutional clients.

“We are excited to partner with APA. With USD4.8 billion assets under management, APA now ranks as the fourth largest independent municipal bond specialist in the US,” says Philippe Couvrecelle, CEO and founder of iM Global Partner. “iM Global Partner’s success in attracting new Partners is due to its values of integrity and support for entrepreneurialism which ensure that each partner retains its autonomy and independent value proposition combined with iM Global Partner’s worldwide distribution network.”

This is the eighth partnership that iM Global Partner has taken on in six years and is the second US partner in 2021. In July, iM Global Partner acquired a 45 per cent stake in Richard Bernstein Advisors, a New York-based asset allocation specialist. In March this year, the firm also announced it would expand its US distribution efforts with the full acquisition and integration of California-based wealth and asset management boutique, Litman Gregory.

Kevin Woods, co-CEO and CIO of APA, says: “We see an incredible opportunity in the partnership with iM Global Partner to help continue our strong growth and build on our leading presence as an independent Municipal bond specialist. iM Global Partners offered APA a unique opportunity to continue our mission to provide excellence to our clients in the same way we have for more than thirty years, and now for decades to come.”

This latest strategic partnership reinforces iM Global Partner’s commitment to the US market and is yet another example of its rapid expansion. The firm has grown its AUM from USD7 billion in 2018 to more than USD37 billion today, more than 400 per cent growth in just three years.

Jeff Seeley, deputy CEO, US chief operating officer & head of US distribution at iM Global Partner, added: “Given APA’s exceptional reputation, competitive long-term performance and growing US distribution, we believe the firm is uniquely positioned to capitalise on the increasing investment opportunities in the municipal segment, as US clients continue to seek attractive tax-exempt strategies. Through our partnership with APA, iM Global Partner is adding a new range of excellent strategies to our growing and diverse fixed income product set.”

Through this new partnership APA joins iM Global Partner’s extensive global asset management and distribution network, while ensuring its long-term independence for decades to come.

For APA, Berkshire Global Advisors acted as financial advisor and Taylor English Duma acted as legal counsel. For iM Global Partner, Oppenheimer & Co Inc acted as financial advisor and Seward & Kissel acted as legal counsel.