Foreside Financial Group LLC, a provider of governance, risk management and compliance service and technology offerings to clients in the global asset and wealth management industry, has acquired the compliance consulting practice of Golden Bear Consulting Group LLC, a boutique regulatory compliance consulting firm based in Newport Beach, California.
Golden Bear partners with private equity funds, hedge funds, emerging managers and wealth managers, to offer compliance consulting services.
“Golden Bear has ensured client success by helping them meet regulatory requirements through creative and practical compliance solutions that instill confidence in their investors,” said David Whitaker, president of Foreside. “Golden Bear shares our values of providing consistent quality of service with integrity, accountability, and innovation to its portfolio of clients. We are proud to welcome them to our team.”
“In joining with Foreside, we are able to deepen and expand the capabilities of our investment advisor consulting practice with a partner that shares our client-centered approach,” said Aman Ahluwalia, founder and CEO of Golden Bear. “I am thrilled about what is in store for our clients, and how much they will benefit from this new relationship. We have worked hard to develop long-lasting and quality relationships with our clients. I am certain this move will allow us to serve as trusted partners to our existing clients for years to come.”
For Foreside, which is majority-owned by PE firm Lovell Minnick, this marks the seventh acquisition since 2019 as it continues to add to and strengthen various parts of its business, from consulting services to technology offerings. The other acquisitions include NCS Regulatory Compliance, Compliance Advisory Services, Quasar Distributors, ICSGroup, Capital Markets Compliance, and JG Advisory Services.
Financial terms of the Golden Bear transaction were not disclosed.