Hennessy Advisors Acquires BP Capital TwinLine Funds.
29 October 2018 - California, US-based Hennessy Advisors, Inc. (NASDAQ: HNNA) has completed the acquisition of assets related to the management of the BP Capital TwinLine Energy Fund and the BP Capital TwinLine MLP Fund, the company said.
Terms of the transaction were not disclosed.
This acquisition represents nearly USD 200m in assets. BP Capital Fund Advisors, LLC will now sub-advise the new Hennessy BP Funds.
As a result, these funds will be reorganised into two newly formed series of Hennessy Funds, the Hennessy BP Energy Fund and the Hennessy BP Midstream Fund.
Hennessy Advisors, Inc. said the Hennessy BP Energy Fund and the Hennessy BP Midstream Fund will complement the Hennessy Gas Utility Fund and allow the company to offer investors a full suite of energy-related products.
Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, multi-asset, sector and specialty mutual funds.
Sector: Banking/Financial Services
Target: BP Capital Fund Advisors' TwinLine Energy Fund and BP Capital TwinLine MLP Fund
Buyer: Hennessy Advisors, Inc
Vendor: BP Capital Fund Advisors
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
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|Publication:||M & A Navigator|
|Date:||Oct 29, 2018|
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