Attorneys from Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represented Altegris, a provider of alternative investment products, in connection with its acquisition by Genworth Financial Inc.
Genworth’s purchase price for Altegris will be approximately $35 million at closing with additional performance-based payments. The deal is expected to close by year-end.
Altegris, based in La Jolla, California, provides alternative investment platforms for advisors that access hedge fund managers, manage future funds and other alternative investments. The company has roughly $2 billion in assets under administration and provides clearing services to accounts totaling $800 million in institutional assets.
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company with more than $100 billion in assets. Genworth Financial Wealth Management (GFWM) and Altegris combined will have approximately $23 billion in assets under management.
Mintz Levin attorneys representing Altegris in the transaction included: Jeremy Glaser, Sebastian Lucier, and Jake Romero, all based in the firm’s Corporate Practice in San Diego