NEW YORK, February 9, 2011: Today, a purchasing group consisting of private equity firm BV Investment Partners and fund industry executives Glenn Henderson and Tim Calveley announced they would acquire Butterfield Fulcrum, a leading hedge fund administrator. Butterfield Fulcrum and FORS Limited, a wealth management reporting company that Messrs. Henderson and Calveley acquired in 2009, will be brought together into one parent company, but will continue to operate as separate businesses and be run by their current management teams. The parent company will be headquartered in Bermuda.
Morgan Lewis advised the purchasing group on the transaction. The Morgan Lewis team was led by Business and Finance partner Robert Dickey, with assistance from associates Andrew Mariniello, Lynda Madera Vaillant, and Rachel Wolman.
For more information about the transaction, please see BV Investment Partners' press release.