FWM Holdings, the New York-based parent company of multifamily offices Forbes Family Trust and LGL Partners, will acquire Optima Fund Management, a New York-based private investment firm specializing in alternative investments.
As part of the transaction, Optima founder D. Dixon Boardman will join FFT as vice chairman and will continue to serve as chief executive officer of Optima, which will become a wholly-owned entity of FWM Holdings, the company said in a release.
Terms of the acquisition were not disclosed.
FWM currently manages $5 billion in assets. Optima manages $2 billion.