Focus Financial Partners has finalised an agreement to enable its partner firm Kovitz Investment Group Partners to include American private real estate fund manager Origin into its portfolio.
Origin, which was established in 2007 by David Scherer and Michael Episcope, primarily caters to the multifamily residential real estate segment.
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The company handles several funds that purchase, develop and lend to properties owned by multifamily entities.
It helps its investors with tax-effective income as well as capital gains and diversified investment options.
Over 3,000 individual investors have invested in funds managed by Origin.
Once the latest deal is completed, Origin will continue to be managed by its existing leadership and investment team. The company will also retain its brand name.
Subject to the approval of customary closing conditions, the deal is slated to be completed by the first quarter of this year.
The strategic move allows Kovitz to boost its presence and scale of its private real estate fund offerings.
Focus founder, CEO and chairman Rudy Adolf said: “Origin will add to Kovitz’s already robust private real estate solutions at a time when alternative investments are becoming increasingly important in meeting the needs of sophisticated investors.
“This transaction will also facilitate the ability of Origin to offer alternative solutions to our partner firms.
“Our M&A expertise and capabilities provide strategic value to our partner firms, which in this case will help Kovitz to expand their alternative investment solutions by adding a firm of Origin’s calibre.”
In November last year, Focus announced that it had partnered with Indianapolis-based Spectrum Wealth Management to boost its presence in the Midwest.
