Portage, Sagard | August 01, 2022
Global fintech investor Portage announced today the launch of a late-stage, fintech-focused Portage Capital Solutions (“PCS”) Fund. Co-Heads Daniel Ballen and Devon Kirk will lead the strategy, focusing on structured opportunities in fintech and financial services companies globally and targeting investments over $50 million.
Devon Kirk has nearly two decades of experience in private equity and structured solutions with a focus on financials. Devon spent over ten years at CPP Investments, based in Toronto. She was most recently Managing Director & Head of Capital Solutions, overseeing financials, special situations and esoteric investments. Prior to that, she was a Managing Director in their Direct Private Equity group, focused on financials.
“We see many great companies that are looking for the right partner. Portage’s expertise and network in fintech and financial services are real differentiators as businesses look to navigate this market. We will deliver more than just capital,” said Devon Kirk.
Daniel Ballen has spent nearly twenty years investing in private equity, structured equity and special situations focused on the financial services, fintech and real estate technology sectors. Prior to Portage, he served as a Portfolio Manager at PIMCO, based in New York, where he led a team focused on structured equity and private equity investments in both North America and Europe for the firm’s alternatives franchise. Daniel has also served on the investment teams of Bain Capital and Pine Brook Partners, partnering with growing businesses across the fintech and financials landscape.
“In this market environment, we’re seeing accelerated demand for flexible capital solutions as entrepreneurs and shareholders look to continue the strong growth trajectory of their business,” said Daniel Ballen.
Portage believes PCS’ strategy is well-positioned to meet the demand for capital across all cycles in both public and private markets, whether for organic growth, M&A, or recapitalizations. PCS will leverage Portage’s existing platform, one of the largest global fintech specialist investment firms with over $3 billion in AUM, and benefit from its deep fintech experience, established sourcing network and proven value-creation expertise.
“Daniel and Devon bring extensive sourcing and transaction execution experience across asset classes,” said Adam Felesky, Co-Founder and CEO of Portage.
“Daniel and Devon bring extensive sourcing and transaction execution experience across asset classes,” said Adam Felesky, Co-Founder and CEO of Portage. “Together, we can expand our efforts to partner with later stage visionary fintech entrepreneurs providing both capital and a value creation network that supports them throughout the life of their business.”
"Portage is building a global platform investing in what we view as the top financial services leaders across the globe,” said Paul Desmarais III, Chairman and CEO of Sagard. “With talented professionals such as Daniel and Devon, we are excited to support companies from early-stage to growth.”
The PCS team is based in New York and Toronto, with plans for further expansion over time. The team will be active in the third quarter of 2022, with fundraising efforts already underway.
Portage is a global fintech investor with US$3 billion under management* that partners with some of the world’s most innovative financial technology companies. Portage's mission is to be the leading fintech investor globally, empowering entrepreneurs and attracting top talent motivated to reshape financial services. The Portage team has deep entrepreneurial and industry experience and provides founders with privileged access to the firm’s partners, in-house value creation experts, and a broader global fintech ecosystem. Portage is a subsidiary of multi-strategy alternative asset manager Sagard. The firm has offices in Toronto, Montreal, New York, Paris and London.
Sagard is a multi-strategy alternative asset manager with more than US$14 billion under management** and professionals located in Canada, the U.S. and Europe. Sagard seeks attractive investment returns by combining its entrepreneurial and disciplined culture with flexible capital and a unique global network of portfolio companies, limited partners, advisors and other valued relationships. As a firm, Sagard operates platforms that invest across five asset classes: venture capital, private equity, private credit, real estate and healthcare royalties. Sagard also engages in private wealth management and new venture creation through its ecosystem partners.
PineBridge Investments | June 07, 2022
Global asset manager, PineBridge Investments Ireland Ltd., has announced that it has been appointed as the investment manager for the Parentum PineBridge Latin America Corporate Bond, a UCITS fund domiciled in Luxembourg. PineBridge has also partnered with Administradora General de Fondos Security S.A. (AGF Security) to manage the day-to-day portfolio of over $4 billion.
Pine Bridge specializes in active, high-conviction investing. The UCITS fund was established on July 5th, 2016 with $ 167 million and promises investors capital appreciation through investments in fixed income instruments in Latin America and denominated in USD.
Latin American corporate bond exposure may provide investors with an attractive source of yield. Likewise, positive relative valuations and strong company fundamentals may indicate an appealing entry point into these markets for long-term investors.”
Juan Pablo Lira, AGF Security’s Chief Executive Officer.
AGF Security’s Latin America Corporate Debt Strategies will manage the portfolio under the leadership of Lucas Villaseca Naranjo, the Chief of Investment Strategy. Macarena Carne Saba is the co-manager for the fund and the head of International Fixed Income.
The Pareturn PineBridge Latin America Corporate Bond Fund is an extension of our specialized fixed income investment heritage, along with our commitment to serving the investment needs of the local market. We are pleased to offer this local capability which we believe will serve as a complement to our developed market strategies for our valued clients in Latin America.”
Adrien Grynblat, Managing Director of PineBridge Investments’ Global Client group
Waller Helms Advisors | May 26, 2022
Waller Helms Advisors, a leading specialist investment bank, has announced an agreement to acquire Park Sutton Advisors, an M&A focused bank. PSA was founded in 2008 and has completed 25 wealth management deals in 2021. The organization has maintained its momentum through 2022.
This combination is game-changing. The addition of Park Sutton significantly enhances our capabilities in the wealth and investment management sector and creates a specialist firm with 11 Managing Directors who successfully advised on over 50 transactions in 2021. Steve, along with Dan Erichson, CFA, and John Eubanks, CFP, has built an enviable practice, and we believe the combination with Waller Helms will allow the team to better serve clients in this rapidly transforming sector. We look forward to welcoming them and all our new colleagues from Park Sutton to Waller Helms."
James Anderson, CEO of WHA.
WHA and PSA’s combined insurance and wealth management advisory practice reflects the consolidation trends between the two firms. WHA’s specialization in healthcare and FinTech/HCIT and M&A will enable PSA to leverage high-performing industries in today’s M&A market.
We are proud of what we have built at Park Sutton and are excited for this next chapter. We chose to partner with Waller Helms out of a variety of attractive options based on our shared business philosophies and common belief in the importance of a strong, client-centric culture. The partners of WHA have distinguished backgrounds, and many have worked together for two decades. This alignment makes for a very strategic combination, and I personally am excited to help build the combined business for many years to come."
Steven Levitt, Founder and Managing Director of PSA.