Forbes Family Trust Buys Optima & AM Global Family Office

Forbes Family Trust Buys Optima & AM Global Family Office

The parent of Forbes Family Trust has agreed to buy Optima Fund Management, an alternative investment firm with about $2 billion of assets under management.

As part of the deal, Optima founder D. Dixon Boardman will immediately become vice chairman of Forbes Family Trust, according to a statementThursday from its parent FWM Holdings. The firm did not disclose terms of the purchase, which is expected to be completed in the third quarter.

Forbes Family Trust, a global multifamily office that started with the fortune of the family known for owning Forbes magazine, has been expanding in part through acquisition. Keith Bloomfield, chief executive officer of the family office, pointed to Optima’s “strong track record” in the hedge industry as a reason for the deal.

“Dixon and his investment team have been pioneers in the hedge fund industry for more than 30 years,” Keith Bloomfield, chief executive officer of Forbes Family Trust, said in the statement. “Optima also has deep relationships with top managers, which is essential for access to the most promising funds.”

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Boardman will remain CEO of Optima, whose website describes him as an early fund-of-funds innovator in the U.S. Founded in 1988, the New York-based firm offers multimanager hedge fund programs, advisory services, and access to single-manager hedge funds.

“With three decades of experience, Optima has successfully navigated multiple investment cycles while the industry has grown increasingly complex,” Boardman said in the statement. The acquisition will give his firm’s clients access to “sophisticated tax, estate, and financial planning, asset allocation, and consolidated reporting” at Forbes Family Trust, he said.

The New York-based family office, which opened its doors to wealthy families beyond the Forbes in 2009, managed more than $5 billion of assets at the end of January, according to the statement.