PINE Advisor Solutions, a boutique, Denver-based provider of outsourced non-investment related services for the asset management industry, saw its client base quadruple last year, as investment managers looked to PINE for support launching new products. The new clients include open and closed-end mutual funds, alternative asset firms and an exchange-traded fund trust.
PINE has added five industry professionals and doubled its office space to meet growing demand for its outsourced accounting and compliance services.
"PINE experienced significant growth in 2020 despite a challenging environment for many firms," said PINE Co-Founder JB Blue. "The most rewarding aspect for PINE is watching our clients grow by adding new people, strategies and funds."
PINE serves as an extension of its clients’ staff, specializing in institutional-quality Chief Financial Officer (CF0), regulatory compliance, fund/advisor launch, and operations support services that an asset manager may not have in-house. With its leadership team averaging more than 15 years’ experience, PINE provides highly-skilled support, saving its clients the expense of hiring and training new employees and allowing them to focus on investing, generating returns and raising capital.
PINE worked with Denver-based Bow River Capital to launch a first of its kind registered private equity fund last year, serving as both the Fund Treasurer and Chief Compliance Officer for the fund. The fund, Bow River Capital Evergreen Fund, converted to a registered fund on December 31, 2020.
"PINE is absolutely essential to what we do. Their deep industry knowledge -- coupled with personalized, high-touch service -- is a rare combination, providing a cost-effective way for us to concentrate on what we do best, which is private equity investing," said Jeremy Held, Bow River Capital Managing Director.
With increasing consolidation in the outsourced CFO and compliance space, PINE plans to carve a niche as an employee-owned firm offering customized solutions, experienced and dedicated staff with the ability to adapt to the needs of its clients faster than larger, less nimble firms.
"While the mergers we are seeing among our competitors may result in higher fees and reduced service levels, we remain committed to serving as a one-stop shop for the non-investment components needed to manage a successful fund and investment adviser," said Derek Mullins, PINE Co-Founder and Managing Partner.
For more information visit www.pineadvisorsolutions.com.
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Erika Gonzalez, Scoop PR