Evanston Capital team buys back TA stake

Evanston Capital Management announced that its management team has completed the purchase of the minority equity stake owned by certain private investment funds affiliated with TA Associates.

The $3 billion Evanston, Illinois-based firm has had a strong partnership with TA since 2010. The buyout was led by Evanston’s senior management team, headed by Adam Blitz, CEO and chief investment officer. According to an announcement, the entire team contributed new equity capital to finance the purchase and the firm has no outstanding debt obligations.

The terms of the transaction have not been disclosed.

Roger Kafker, TA Associates senior advisor and prior ECM board member added, “Throughout our extended partnership with Evanston Capital’s management team, we have appreciated their diligence regarding manager selection, as well as their attention to push forth the firm’s clients’ needs and best interests first and foremost.”

“We have enjoyed our strong partnership with TA and are excited to again be a fully independent, employee-owned asset management firm,” said Blitz. “This management buyout allows us to maintain our culture, our identity, and our strong alignment with the interests of our clients. We appreciate TA exiting its ECM investment through a transaction which minimizes disruption for our clients.”

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Evanston Capital has offered multi-manager hedge fund programs and custom solutions for institutional and high-net-worth investors since 2002. The firm maintains more than 175 institutional investor relationships and manages commingled funds in addition to offering customized solutions to clients looking to tailor their hedge fund program.

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