DENVER, July 31, 2015 /PRNewswire/ -- ALPS, a subsidiary of DST Systems, Inc. (NYSE: DST) that provides products and services to the financial services industry, today announced it has completed the previously announced acquisition of asset manager Red Rocks Capital LLC ("Red Rocks").
Golden, Colorado-based Red Rocks is the first and largest domestic money manager to package listed private equity products in a '40-Act structure. The acquisition is expected to enhance ALPS' position in the alternative investments marketplace.
"Red Rocks is a leader in the listed private equity space," said Ned Burke, CEO of ALPS Holdings, Inc. "This transaction represents an important step in our efforts to continue to provide investors and financial professionals with access to important asset classes."
Red Rocks co-founders Adam Goldman and Mark Sunderhuse are expected to continue in their roles as managers of the Red Rocks strategy.
Through its subsidiary companies, ALPS Holdings, Inc. is a leading provider of innovative investment products and customized servicing solutions to the financial services industry. Founded in 1985, Denver-based ALPS delivers its Asset Management and Asset Servicing Solutions through offices in Boston, New York, Seattle, and Toronto. ALPS is a wholly-owned subsidiary of Kansas City-based DST Systems, Inc. For more information about ALPS and its services, visit www.alpsinc.com. Information about ALPS products is available at www.alpsfunds.com.
DST Systems, Inc. is a leading provider of sophisticated information processing and servicing solutions to companies around the world. Through its global enterprise, DST delivers strategically unified transactions and business processing, data management, and customer communications solutions to the asset management, brokerage, retirement, and healthcare markets. Headquartered in Kansas City, MO, DST is a publicly-traded company on the New York Stock Exchange. For more information, visit www.dstsystems.com.
Laura M. Parsons
DST Global Public Relations