Genworth to hike alternatives offerings with Altegris buy

Discussion in 'Professional Trading' started by ASusilovic, Oct 22, 2010.

  1. Genworth Financial Inc. this morning announced that it has reached an agreement to acquire alternative-investments platform Altegris Advisors LLC for approximately $35 million. The deal also includes some performance-based payments.

    Altegris, which has approximately $2 billion in client assets and provides clearing services to accounts representing $800 million in institutional assets, is expected to help Genworth provide a broader product offering to independent financial advisers.

    Hum, $35 million ? That´s not much...
  2. ?......2% of 2-billion dollars equals 40-million dollars. 35-million can be a decent price if they can retain the assets. :cool: