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With the large amount of dislocation in the local municipal bond market along with the recently implemented tax incentives, we view Puerto Rico as ripe with opportunity.
NEWPORT BEACH, CA, October 31, 2013 /24-7PressRelease/ -- Fairbridge Capital Partners announced today that it has completed the purchase of Puerto Rico based brokerage Consultiva Securities.
Consultiva Securities is the 5th largest broker dealer by asset size in Puerto Rico and services an institutional client base including governments, foundations, endowments, corporations and pensions plans, as well as a robust network of high net worth individuals and families. The seller was the parent company, Consultiva Internacional, whose focus will continue to be institutional and high net worth financial advisory and consulting. The broker-dealer will operate as Fairbridge Capital Markets and the transaction includes a servicing agreement to provide brokerage services to Consultiva Internacional.
"We are very excited about this acquisition and are looking forward to working strategically with Consultiva Internacional. The transaction will also allow us to offer brokerage services in the U.S. to the many institutions our management has long worked with. With the large amount of dislocation in the local municipal bond market along with the recently implemented tax incentives, we view Puerto Rico as ripe with opportunity," said Ed Prado, President and CEO of Fairbridge Capital Partners and Fairbridge Capital Markets.
Puerto Rico recently passed several Tax incentives designed to attract hedge funds, private equity and billionaires to the US territory. These programs have gained the interest of many market professionals including John Paulson who is rumored to be considering relocating. As Puerto Rico makes a push to become a banking haven it has created a revived interest in local banking and brokerage entities that will ultimately benefit from such. Fairbridge Capital Markets will continue to maintain its headquarters in Puerto Rico while adding offices in Newport Beach and Chicago.
"Fairbridge is the ideal buyer of our broker dealer unit, they bring seasoned management a keen understanding of our client base and culture while possessing many relationships on the mainland. This is part of a strategic plan that will ultimately allow Consultiva Internacional to focus on its core advisory/consulting business, while our clients can enjoying the benefits of access to markets and services through a larger, independent broker-dealer," said Myrna Rivera Founder and CEO of Consultiva Internacional.
About Fairbridge Capital Partners
Fairbridge Capital Partners is a California based company whose focus is to acquire and advise on financial service entities that can cater to corporate and government entities required to do business with Minority-Owned Enterprises (MBE). Through its broker dealer unit, Fairbridge Capital Markets, it operates a boutique investment bank and full service brokerage firm providing value-driven solutions to governments, corporations, financial entities, hedge funds, municipalities, endowments, municipalities and public/private pension funds. Fairbridge Capital Markets is a member of FINRA, SIPC and MSRB. For more information about Fairbridge and its services please visit www.fairbridgecap.com
Contact: Krista Maloney, Fairbridge Capital Partners 949.6102.7191 email@example.com
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