The latest M&A deals in wealth management.

Altegris, Artivest, Continuum
Alternative investments firm Altegris is buying its business from digital platform Artivest for an undisclosed sum. Investment house Continuum is also involved in the buyout.

Matt Osborne, Altegris co-founder and Artivest chief investment officer, in partnership with Continuum Capital Managers, co-founded by Doug Grip and Steve Vanourny, will acquire the Altegris entities and all related assets from Artivest. The acquired entities include mutual fund and commodity pool businesses. 

Altegris will initially manage about $800 million in assets. Osborne will lead the firm as chief executive and chief investment officer alongside a management team of former Artivest and Altegris colleagues.

Osborne and Continuum will re-establish Altegris as an independent company, a statement from the organizations said.

Altegris will focus on public and registered alternative offerings including acquisition opportunities alongside new organic product launches. 

The Altegris platform includes the Altegris AACA Opportunistic Real Estate Fund, the Altegris Futures Evolution Strategy Fund; and two privately offered commodity pools. 

"The Altegris brand has always been synonymous with quality alternative strategies, and Steve and I are excited to partner with Matt and his team as we expand the Altegris position as a leading alternative investment manager," said Doug Grip, founding partner, chief executive officer of Continuum Capital Managers.

The transaction is anticipated to close late in 2020 and completes the sale of Artivest's assets following the previously announced sale of its private funds and technology platform to iCapital Network.

Procopio, Cory, Hargreaves & Savitch LLP served as legal advisor to Altegris Holdings. Stradley Ronon Stevens & Young, LLP served as legal advisor to Artivest Holdings.