San Diego-based investment research and fund company Altegris and New York-based investment tech firm Artivest announced on Thursday plans to merge under the name Artivest.
James Waldinger, CEO and founder of Artivest, said that he hoped the merger would democratize access to alternatives by bringing Altegris research and products together with Artivest’s technological platforms connecting advisors with private equity investments and hedge funds.
“This integration will create the solutions-driven marketplace our clients want. After we formed a commercial relationship with Altegris last year, we realized our strategic goals align and our value propositions are highly complementary,” said Waldinger in released comments. “Altegris will expand our investment, operations, and distribution capabilities, immediately amplifying the power of our technology—and vice versa.”
According to a joint press release, the merged company would employ a team of 100 financial professionals and service more than $3 billion in client capital. The Altegris family of funds would retain the Altegris name.
Waldinger would continue as CEO of the new Artivest, while Altegris CIO Matt Osborne would stay on as the CIO of the combined firm. Martin Beaulieu would transition from CEO and executive chairman of Altegris to executive chairman of the combined firm.
The merged company would retain San Diego and New York offices, and would remain privately held by employees and outside investors, including KKR, Thiel Capital, Aquiline Capital Partners and Genstar Capital.
Additional details of the merger were not released on Thursday,