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Hovde Private Equity Advisors’ Financial Services Partners Fund I (FSPF I) is currently invested in the following companies:
| Concord |
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| Matawan, New Jersey |
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| Acquired: September 2006 |
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| Status: Unrealized |
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| Concord, which operates out of the Northeast as part of the outsourced asset management industry, provides comprehensive wealth management platforms to investment advisors (primarily bank wealth management and trust departments) that are moving away from proprietary account management to external professional management. |
| Kinloch Holdings, Inc. |
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| New Hyde Park, New York |
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| Acquired: October 2006 |
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| Status: Unrealized |
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| Kinloch is a newly formed holding company established to make insurance brokerage company and insurance client producer acquisitions in order to create a premier regional insurance brokerage firm. With this new private capital, Kinloch consummated its first platform investment by purchasing Genatt Associates, Inc., one of the 100 largest regional U.S. insurance brokers with a 40-year history specializing in the brokerage of property & casualty insurance for large commercial accounts in the Northeast. |
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Hovde Private Equity Advisors is pleased to announce that it has invested in Kinloch Holdings, Inc. (“Kinloch”). Kinloch is a newly formed holding company established to make insurance brokerage company and producer acquisitions in order to create a premier regional insurance brokerage firm. Kinloch has a very experienced management team with proven success in the insurance brokerage industry, including Robert Lockhart ,Chairman and CEO of Kinloch, who is the former President of Hilb, Rogal & Hobbs Company (NYSE – HRH), the eighth largest insurance brokerage firm in the U.S.
Hovde’s initial investment was used to fund the acquisition of Genatt Associates, Inc., one of the largest regional insurance brokers with a 40-year history specializing in the brokerage of property & casualty insurance for large commercial accounts in the Northeast. Long Island-based Genatt Associates, which has a significant line of insurance specialization and industry-leading transactional capabilities, will serve as Kinloch’s platform company in the region.
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