CONSOLIDATION: Aksia LLC Acquires TorreyCove Capital Partners
Posted on 01/08/2020
Investment consulting firm Aksia LLC, which focuses on hedge funds and private markets, acquired a rival firm called San Diego-based TorreyCove Capital Partners, which is based in San Diego. TorreyCove Capital Partners focuses on private equity, advising clients such as U.S. public pensions. The combined firm will remain headquartered in New York and David Fann, the TorreyCove president and CEO, will become Vice Chairman of Aksia.
In addition, TorreyCove’s five managing directors will become Aksia partners.
In January 2017, four members of TorreyCove Capital Partners acquired an 80% stake in TorreyCove from Mitsubishi Corporation. In 2011, Mitsubishi Corporation acquired PCG Asset Management, which was renamed to TorreyCove Capital Partners.