Friday, February 1, 2008

Employee Buyout of FIA

Charley Tarver will sell Forestry Investment Associates (which I think was the first TIMO, one of the first for sure) to its employees. The employee buyout will be funded with capital provided by Asset Management Finance Corporation which will assume a financial interest in FIA. The management team, consisting of L. Michael Kelly, V. Scott Bond, Samuel R. Grice, Charles L. VanOver and Marc A. Walley will maintain a controlling ownership interest in the firm.

"Launched in 1986, Forest Investment Associates manages approximately $2.8 billion in assets, overseeing broadly diversified portfolios of timberland on behalf of state and municipal retirement systems, corporate pension plans, endowments, foundations, family offices and private commingled funds. Timberland has become an increasingly popular asset class among institutional investors. It provides portfolio diversification, having low correlation with traditional equities and real estate, and acts as a hedge against inflation."

If you are an employee in another firm looking for a way to do a buyout, you might want to talk to AMF. According to David Chalfin, Vice President at AMF, “We feel fortunate to partner with the team at FIA and to assist them in achieving this milestone transaction. We look forward to facilitating management buyouts with other successful management teams in the investment management industry.” Read all about it. --Brian

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