Black-owned Nile Capital Group Holdings has acquired a stake in a leading global investment firm.
According to a news release, Nile Capital, a “sector-focused, operationally-oriented private equity firm,” along with ABS Global Investments, has bought the remaining 23% minority interest in ABS from Evercore Inc.
ABC will maintain majority ownership while Nile Capital signs on as a strategic investor. Nile Capital was founded by Melvin Lindsey (managing partner); Richard Pell (chief information officer and partner); and Hien Gerbereux (partner).
“As investors look for a differentiated source of non-correlated alpha, ABS has provided unique solutions to meet its customers’ needs for over two decades,” Lindsey said in a news release. “Under Laurence and Gui’s leadership, ABS has built a culture of excellence driven by a focus on innovation, talent development, and a commitment to customer success. We look forward to joining forces with the ABS team to build on the strong momentum and further establish its position as a market leader.”
Laurence Russian, founding partner, and portfolio manager at ABS, commented:
“Nile’s deep industry knowledge and expertise in partnering with boutique asset management companies will empower us to expand our market reach and breadth of product offerings, supporting our ability to continue to provide best-in-class investment solutions to our clients. We are excited to welcome Nile as our new partner. ABS is proud to have partnered with the Evercore team since 2012, and we are thankful for Evercore’s commitment to helping us achieve so much during our decade-long partnership.”
Guilherme Ribeiro do Valle, founding partner and portfolio manager at ABS, added:
“We are fortunate to have worked with such a top-notch team over the past several years as we continue to innovate and better suit the needs of our clients. We’re thrilled to partner with Nile to help us continue this journey. We’re excited by the opportunity in front of us.”
