JonesTrading To Acquire Conifer Securities

Aug 15 2012 | 7:56am ET

Brokerage firm JonesTrading has joined forces with hedge fund servicer The Conifer Group.

According to a letter of intent signed between the two firms, JonesTrading will acquire the Conifer Group subsidiary Conifer Securities, managing the business as a wholly owned subsidiary while the Conifer Group obtains an equity stake in JonesTrading. Jack McDonald, Conifer’s president and CEO, will join JonesTrading’s board of directors. The transaction—further details of which were not revealed—is expected to close in the fourth quarter of 2012.

The partnership will allow JonesTrading to offer prime brokerage services and broaden the capabilities of its growing advisor services business while The Conifer Group leverages the strength of JonesTrading for its expanding fund administration and middle office services for hedge funds and investment managers. 

“The businesses of JonesTrading and Conifer Securities are complementary and the arrangement between our firms will not only make our respective clients’ trading more effective but will add value to the entire investment cycle,” said William (Packy) Jones, chairman and CEO of JonesTrading.

“This partnership will provide a comprehensive and powerful set of tools that will enhance the superior trade execution services both firms currently provide,” said McDonald. “Separately Conifer will continue to grow its fund administration and middle office services through high quality service and leading technology, strengthening our market leading capabilities at an exciting time of industry expansion. I look forward to working with the JonesTrading team and contributing to the board’s continued business development initiatives.”

 


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note