Genworth Financial acquiring Altegris

Jon Sundt Courtesy

La Jolla-based Altegris Investments is being acquired by Genworth Financial, Inc. (NYSE: GNW), according to a recent press release.

Under the terms of the agreement, Genworth will pay approximately $35 million at closing, with additional performance-based payments.

Genworth Financial Wealth Management (GFWM) and Altegris combined will have approximately  $23 billion in assets under management, the release stated.

“As a specialist with deep roots in designing and delivering alternative investment products, we are excited to introduce our capability and expertise to a broader group of financial advisors through GFWM,” said Jon Sundt, president and CEO of Altegris. Bringing a proven suite of alternative investment products as well as distribution

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Posted by Phil Dailey on Nov 9, 2010. Filed under La Jolla, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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