LA JOLLA, Calif. and NEW YORK, Sept. 9, 2020 /PRNewswire/ -- Altegris Holdings and Artivest Holdings today announced they have entered into a definitive agreement under which Matt Osborne, Altegris Co-Founder and Artivest Chief Investment Officer, in partnership with Continuum Capital Managers, co-founded by Doug Grip and Steve Vanourny, will acquire the Altegris entities and all related assets from Artivest including the mutual fund and commodity pool businesses. Mr. Osborne and Continuum will re-establish Altegris as an independent company and extend its legacy as a pioneer and proven leader in the alternative investment marketplace.
"We are excited to re-establish Altegris as an independent company and build on the continued success of our unique alternative offerings," said Mr. Osborne. "With our deep research heritage and pedigree of innovation, we will remain a leading provider for alternative sources of income and growth."
Martin Beaulieu, CEO and Executive Chairman of Artivest, said, "We are thrilled that investors will benefit from the continuity of investment leadership provided by Matt and his team, combined with the industry experience of Doug and Steve from Continuum. In addition, we are pleased to be able to complete the sale of Artivest with this final transaction."
Altegris will focus on public and registered alternative offerings including acquisition opportunities alongside new organic product launches. The Altegris platform currently includes the Altegris AACA Opportunistic Real Estate Fund (RAAIX), with a 5-Star Overall Morningstar Rating™, the Altegris Futures Evolution Strategy Fund (EVOIX); and two privately offered commodity pools. Upon closing of the transaction, the newly-independent Altegris will initially manage approximately $800 million in assets. Mr. Osborne will lead the firm as CEO and CIO alongside an experienced management team of former Artivest and Altegris colleagues.
"The Altegris brand has always been synonymous with quality alternative strategies, and Steve and I are excited to partner with Matt and his team as we expand the Altegris position as a leading alternative investment manager," said Doug Grip,Founding Partner, Chief Executive Officer of Continuum Capital Managers.
The transaction is anticipated to close late in 2020 and completes the sale of Artivest's assets following the previously announced sale of its private funds and technology platform to iCapital Network.
Terms of the agreement were not disclosed. Procopio, Cory, Hargreaves & Savitch LLP served as legal advisor to Altegris Holdings. Stradley Ronon Stevens & Young, LLP served as legal advisor to Artivest Holdings.
About Altegris: Altegris is a pioneer in providing access to alternative sources of income and growth. With one of the leading research and investment teams focused solely on alternatives, Altegris follows a disciplined process for identifying, evaluating, selecting and monitoring investment talent across a spectrum of alternative strategies including managed futures, real estate, global macro, long/short equity, and event-driven, among others.
About Continuum Capital: Continuum Capital invests in companies capitalizing on disruption in the asset management industry. Continuum provides strategic resources to accelerate growth, pursue acquisitions and facilitate shareholder liquidity. Continuum has completed seven transactions with asset managers with more than $15 billion in assets. Past and present affiliate partners include Osmosis Investment Management, Destra Capital Management, DirectIndex, Athena Capital Advisors and Cadence Capital Management.
* Altegris/AACA Opportunistic Real Estate Fund Class I shares overall rating out of 235 real estate funds As of 07/31/2020.* Morningstar Ratings measure risk-adjusted returns. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) rating metrics. Past performance is no guarantee of future results. For the most recent month-end performance, please visit https://www.altegris.com/Funds/Mutual-Funds/Altegris-AACA-Opportunistic-Real-Estate-Fund.aspx#Performance
*For the period ended July 31, 2020, Morningstar rated this Fund's Class I shares for the 3-year, 5-year, and overall period. Class I received 5 stars for the 3-year among 235 Real Estate Funds, 5 stars for the 5-year period among 228 Real Estate Funds, and 5 stars for the overall periods among 235 Real Estate Funds, rated by Morningstar. Performance reflects applicable fee waivers and reimbursements without which, the returns would be reduced and ratings could be lower. The Fund may have experienced negative returns over the time periods rated.
The MORNINGSTAR RATING™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life sub-accounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Morningstar Rating is for the I share class only; other classes may have different performance characteristics.