Genworth to hike alternatives offerings with Altegris buy

A

ASusilovic

Genworth Financial Inc. this morning announced that it has reached an agreement to acquire alternative-investments platform Altegris Advisors LLC for approximately $35 million. The deal also includes some performance-based payments.

Altegris, which has approximately $2 billion in client assets and provides clearing services to accounts representing $800 million in institutional assets, is expected to help Genworth provide a broader product offering to independent financial advisers.

http://www.investmentnews.com/article/20101019/FREE/101019902

Hum, $35 million ? That´s not much...
 
Quote from ASusilovic:
----Genworth Financial Inc. will buy Altegris for ~$35 million.
----Altegris, which has approximately $2 billion in client assets....
----$35 million? That´s not much.....
More...
?......2% of 2-billion dollars equals 40-million dollars. 35-million can be a decent price if they can retain the assets. :cool:
 
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