NEW YORK–(BUSINESS WIRE)–February 27, 2015–Seaport Capital Partners (“Seaport”) announced today that FTJ FundChoice, LLC (the “Company”), a Seaport portfolio company, has completed a successful recapitalization. Madison Capital Funding led the recapitalization, which included a new term loan and a revolving credit facility. The proceeds of the recapitalization were used to refinance outstanding debt, support the Company’s continued growth, and fund a cash distribution to equity holders.
FTJ FundChoice provides technology-enabled asset management, electronic trading and back office administrative services to investment advisors. The Company has grown considerably in recent years as it continues to add assets under administration and investment advisors to its platform. The Company has $4.6 billion in assets under administration as of February 2015.
“FTJ FundChoice has experienced rapid growth since Seaport’s investment in 2012,” said Dean Cook, President of FTJ FundChoice. “The Company’s emphasis on unparalleled service and customer satisfaction has allowed us to establish our position as a leading turnkey asset management program (TAMP).”
“We are pleased to be working with Madison Capital Funding,” said Bob Tamashunas, Partner of Seaport Capital. “We believe that they will be a strong partner for FTJ FundChoice as management pursues the numerous strategic opportunities that they see for the continued growth of the business.”
ABOUT FTJ FUNDCHOICE
Founded in 2001, FTJ FundChoice, LLC, a SEC Registered Investment Advisor, provides advisors access to independent asset allocation strategies and model trading functionality. In addition, FTJ FundChoice assists advisors in simplifying their business by absorbing back office tasks, such as trade reconciliation, account administration, fee billing and performance reporting, allowing the advisor to spend more time on revenue generating activities. For additional information, visit www.ftjfundchoice.com.
ABOUT SEAPORT CAPITAL
Founded in 1997, Seaport Capital provides capital to middle market companies in the communications, media, and business services sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport’s extensive investing experience enables it to develop successful strategies; its relationships and resources help achieve them. The firm seeks to invest $5 to $25 million of equity capital in each portfolio company. For additional information, visit www.seaportcapital.com.
Micah Paldino, 513-621-7676