Cantor Fitzgerald Investment Advisors acquires the activities of Smith Group Asset Management
NEW YORK, July 20, 2021 / PRNewswire / – Cantor Fitzgerald Investment Advisors, LP, a subsidiary of Cantor Fitzgerald, LP providing investment and advisory solutions to global investors (“CFIA”), today announced the acquisition of the business of asset management of Smith Group Asset Management, LP (“Smith Group”), a registered investment advisory firm with approximately $ 2.5 billion in assets under management and extensive industry experience.
the Texas The based asset management platform will operate from a newly formed CFIA subsidiary, Smith Group Asset Management, LLC, with the same team that previously served at the Smith Group and will continue to be led by Stephen S. Smith, Founder and CEO of Smith Group, in his role of Senior Managing Director, Founder and CEO.
“With this transaction, we are continuing the development of our asset management business, which is an important part of the overall strategic direction of our business,” said Michel millard, Cantor Fitzgerald, Global Head of Asset Management. “Smith adds a world-class large-cap manager with a growth slant who answers the ‘passive vs. active’ question with his 25-year record of beating the S&P. We fully expect our clients to benefit from the growing breadth of our asset management offering and look forward to working with the Smith Group. “
“We are thrilled to join the global brand of Cantor Fitzgerald and to use the CFIA’s vast experience in running successful fund management businesses by leveraging the depth of their balance sheet to fund growth,” added Stephen S. Smith, Founder and CEO of Smith Group. “As we continued to think about expansion and how to give our customers, employees and management teams the best possible resources, it was an easy decision. ”
Founded in 1995, Smith Group has established itself as a long-term equity manager of publicly traded securities in the United States and abroad. Using both quantitative and qualitative analysis, Smith Group specializes in investing in high quality companies ready to accelerate earnings growth and exceed investor expectations. Smith Group uses an investment process originally developed by the founder and CEO Stephen S. Smith in the late 1970s. Over the decades, the process has evolved while remaining true to the goal of finding positive unexpected income. The company’s mission is to be an industry leader in creating risk-controlled portfolios designed to produce attractive returns for our clients, which it has generally achieved, particularly for clients with high levels of investment. long investment horizons.
About Cantor Fitzgerald
Cantor Fitzgerald, with more than 12,000 employees, is a leading global financial services group at the forefront of financial and technological innovation and has been a proven and resilient leader for more than 75 years. Cantor Fitzgerald & Co. is a leading investment bank serving more than 5,000 institutional clients worldwide, recognized for its strengths in the fixed income and equity markets, investment banking, PSPC underwriting and PIPE investments, blue chip brokerage and commercial real estate and for its global distribution platform. Cantor Fitzgerald & Co. is one of 24 primary dealers authorized to deal with the Federal Reserve Bank of New York. Cantor Fitzgerald is one of the main sponsors of SPAC, having completed several initial public offerings and announced several business combinations through its acquisition platform CF. For more information, please visit: www.cantor.com.
About Smith Group Asset Management
For more information, please visit: www.smithasset.com.
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SOURCE Cantor Fitzgerald, LP