BV Investment Partners Announces Sale of Butterfield Fulcrum
Leading Administrator to Alternative Investment Industry to Continue Growth
with Mitsubishi UFJ Trust and Banking Corporation
BOSTON, June 20, 2013
BOSTON, June 20, 2013 /PRNewswire/ -- BV Investment Partners ("BV"), a lower
middle-market private equity firm focused on the information and business
services and communications sectors, today announced the sale of portfolio
company Butterfield Fulcrum, a leading independent hedge fund administrator
and service provider to the alternative investment industry, to Mitsubishi UFJ
Trust and Banking Corporation ("MUTB").
BV identified the proprietary investment opportunity with Butterfield Fulcrum
through an introduction from a member of its Operating Advisory Board. The
acquisition, made in partnership with industry executives Glenn Henderson and
Tim Calveley in 2011, combined Butterfield Fulcrum Group and FORS to form a
new platform company serving the alternative asset class and laid the
groundwork for its future growth. With its comprehensive suite of products
and services, the company today is a leading independent services provider
with 25 years of experience providing a full service fund administration
offering including front, middle and back solutions to hedge funds, fund of
funds, managed accounts, private equity and real estate funds. The company
services more than 850 funds and has seven offices in six countries and
employs over 325 people.
Justin H. Harrison, a Managing Director at BV, said, "We were delighted to
partner with Glenn and Tim to help transform the company. After we acquired
the business, the new company instituted a renewed focus on client service,
launched technology-enabled products, and overhauled its software and IT
development capabilities. The company also initiated an active sales outreach
effort that resulted in significant new business from both existing and new
clients. After two years of very strong growth under our ownership, we are
confident the company will continue to capitalize on its potential and grow
further as a valuable asset within a global financial services institution
Glenn Henderson, Chief Executive Officer of Butterfield Fulcrum, said, "It was
a great pleasure to work with the BV team whose knowledge of the information
services sector and support helped us grow the business. We are excited to
enter this new partnership with MUTB as it is a very positive move for the
company and our clients."
Vikrant Raina, Managing Partner of BV, added, "This transaction demonstrates
our strategy of backing strong management teams and leveraging our core
expertise to grow and transform businesses. This was the largest investment
from our Fund VII and we are delighted to achieve a very successful outcome
for our investors over this two-year period."
The transaction is subject to normal regulatory and government approvals.
Evercore Partners served as exclusive financial advisor to BV on the
transaction and Ropes & Gray provided legal counsel.
BV Investment Partners is currently investing its eighth private equity fund.
The Firm is one of the oldest and most experienced sector-focused private
equity firms in North America. Since its founding in 1983, the firm has
invested over $2.6 billion in over 80 companies, actively targeting
investments in the information and business services and communications
industries. For more information, please visit www.bvlp.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE BV Investment Partners
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