Press Release February 18, 2015

Goodwin Procter Represents TA Associates in Acquisition of Majority Interest in NorthStar Financial

Goodwin attorneys recently advised private equity firm TA Associates on its announced agreement to acquire a majority interest in NorthStar Financial Services Group, LLC, and its nine subsidiary wealth management industry service providers. NorthStar has more than $300 billion in assets under management and administration.Terms of the transaction, which is expected to close in the second quarter of 2015, were not disclosed. 

TA Associates is a global growth private equity firms. The firm has invested in 450 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries.

NorthStar Financial Services Group, LLC, headquartered in Omaha, Neb., is a holding company for several subsidiaries, including CLS Investments, one of the largest ETF strategists in the United States; Gemini Fund Services, a provider of mutual fund administration and pooled investment solutions; and Orion Advisor Services, among the country’s largest independent providers of Software as a Service portfolio accounting services to RIAs. Each business unit offers unique services within the financial industry, including asset management, pooled investment solutions, portfolio accounting, fund distribution and compliance, and printing and marketing. NorthStar helps investment advisors enhance client service, increase operational efficiencies and expand their businesses. NorthStar has additional offices in Hauppauge, N.Y.; Chicago, Ill.; Mill Creek, Wash.; and Scottsdale, Ariz.

The deal team advising TA was led by partner John LeClaire and senior associate Chris Wilson (corporate); partner Laura Rupenian (debt financing); and partner Howard Cubell and senior associate Argyrios Saccopolous (tax structuring); and also included Joel Lehrer (intellectual property); Peter LaVigne, William Stern, Nicole Griffin and Adam Aramati (regulatory matters); and Eric Hinz and Rick Cocci (corporate).

To learn more, please read the TA press release.