HOUSTON and NEW YORK, Sept. 23, 2020 /PRNewswire/ -- CAZ Investments ("CAZ"), a Houston-based multi-family office and investment advisor, and Bonaccord Capital Partners ("Bonaccord"), the minority investment business of the leading global asset manager ("ASI"), today announced a long-term strategic partnership.
The partnership is expected to result in meaningful commitments (over $250m in aggregate) to ASI private markets strategies over multiple investment cycles. As strategic partner to Bonaccord, CAZ will receive strategic economics benefits, and access to co-investments and ancillary product opportunities for itself and its client network.
Bonaccord focuses on acquiring minority equity interests in mid-sized private markets GP's. GP minority investment strategies have experienced substantial growth over the past five years, due in large part to the attractive financial characteristics of private markets GPs' business model and favorable macro dynamics surrounding private markets strategies. The Bonaccord Strategy seeks to capitalize on opportunities in the mid-size space where the team believes GP's have comparatively attractive fundamental characteristics and where there is far less competition.
CAZ is a substantial investor in GP minority investment strategies, having deployed more than $750mm across fund investments and co-investments. CAZ is seeking to supplement and diversify its existing large-GP minority stake exposure through a substantial exposure to mid-sized GP's. CAZ carried out extensive diligence on mid-size strategies over 18 months and has selected Bonaccord as its preferred partner.
Christopher Zook, Chairman and Chief Investment Officer of CAZ, commented: "This partnership is a critical extension of our successful GP minority investment strategy, targeting the attractive mid-size segment. After investigating all the participants in the segment, we felt that Bonaccord was the right partner for us because of their strong combination of quality underwriting and relational capacity. We are confident that they can add tremendous value to the underlying GP's, which should lead to strong investment performance."
Ajay Chitkara, Head of Bonaccord Capital Partners, said: "We are thrilled to form this partnership with CAZ Investments and to have the opportunity to provide their investor base with attractive return potential, co-investment opportunities, and deep partnerships with a roster of exceptional mid-size private markets GP's. CAZ's long-term partnership will be critical in providing our investee GP's with access to another critical client segment supporting their long-term strategic development objectives."
Peter McKellar, Global Head of Private Markets for Aberdeen Standard Investments, said: "This long-term strategic partnership between Bonaccord and CAZ is a critical step forward in the development of our private markets business. Sophisticated private markets investors like CAZ continue to develop away from passive LP investments and into pursuing deeper, holistic relationships with their GP's."
Bonaccord is a part of ASI's private markets platform, which manages $86bn with nearly 400 investment professionals globally. Within the $86bn in private markets assets, there are $22bn in mandates targeting investments with external private markets GP's spanning primary fund commitments, secondary fund commitments, and co-investments across private equity, private credit, real estate, and real assets. These mandates are supported by more than 120 investment professionals on three continents. Bonaccord seeks to leverage ASI's embedded relationships and substantial insights to support its investment activities.
Notes to editors
About CAZ Investments
CAZ is a Houston-based registered investment advisor with a focus on sourcing complex, thematic opportunities for its own proprietary investment and for its ecosystem of shareholder-owners and unaffiliated investment partners. CAZ has a 20-year track record of sourcing attractive opportunities spanning short sub-prime, distressed financials, mid-stream energy, medical royalties, and GP minority investments. CAZ has committed more than $750mm to GP minority investments and has become one of the world's largest investors in the strategy.
About Aberdeen Standard Investments
- Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients.
- With over 1,000 investment professionals, we manage $644.5 billion* of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
- We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, strong investment performance.
- Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world's largest investment companies.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on August 14, 2017.
* Standard Life Aberdeen AUM as of December 31, 2019.
In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers: Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.
SOURCE Aberdeen Standard Investments