Investment banking firm Houlihan Lokey has acquired Red Pine Advisors, a New York-based financial advisory firm that specializes in the valuation and pricing of illiquid structured product portfolios.
Houlihan Lokey said that Red Pine will be part of its portfolio valuation and advisory services practice. Red Pine’s three principals and 20 employees will join Houlihan Lokey as part of this transaction.
Michael Fazio, managing director and head of Houlihan Lokey’s portfolio valuation and advisory services, said: “Red Pine has developed a compelling platform and a strong reputation for the valuation of structured products, particularly in the banking, insurance and asset management industries. Their expertise, technology and market position complement our existing business and will allow us to compete aggressively within this growing market segment.”
Mitchell Kahn, managing principal of Red Pine, said: “We think our capabilities in structured products will be a valuable addition to the organization and clients of both firms will benefit greatly from the combination.”