MutualFundWire.com: FRC Buyer's Legal Adviser Reveals Itself

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Monday, February 9, 2009

FRC Buyer's Legal Adviser Reveals Itself

Nearly three months after news broke that Mercatus Partners was buying Financial Research Corp. from Citigroup, Mercatus' legal advisers trumpeted their role in the deal. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo came out with a press release Monday afternoon saying that attorneys John Pomerance and Bram Shapiro from the corporate section and David Halpert and Mike Lieberman from the tax section represented Mercatus.

The MFWire first reported that Boston-based FRC was on the block in September of last year (see The MFWire, 09/23/08) and in November reported that Mercatus, a private equity investing and strategic consulting firm, was buying FRC (see The MFWire, 11/21/08).

Citi acquired FRC in 2007 as part of its purchase of Bisys Fund Services. FRC was founded by Neil Bathon in 1987. It was acquired by The Boston Institutional Group in 1996 and then by Bisys in 2001, which was in turn acquired by Citigroup in May 2007.

Bathon left FRC in June of 2006 and later started FUSE Research Network.

Company Press Release BOSTON, Feb 09, 2009 (BUSINESS WIRE) -- Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. announced that it represented Mercatus Partners LLC, a financial services strategy consulting and investment firm, in its acquisition of Boston based Financial Research Corporation (FRC), from parent company Citigroup Inc.

FRC is a mutual fund data company, whose monthly reports on mutual fund companies' assets under management are highly regarded in the financial services industry. Mercatus Partners has announced that it plans to maintain the FRC company brand.

Representing Mercatus Partners were Mintz Levin attorneys John Pomerance and Bram Shapiro, in the firm's Corporate section, and David Halpert and Mike Lieberman, in the firm's Tax section.

Mintz Levin is an AmLaw 100 law firm with offices in the US and the UK. The firm has exceptional depth in a broad range of practice areas, but our clients recognize that what sets us apart from other law firms is our industry focus. By truly understanding business drivers and industry trends, we are able to provide our clients with more than just legal advice; we provide legal solutions to our clients' business issues. Since 1933, our lawyers have represented entrepreneurs, emerging growth companies, Fortune 500 companies, government agencies, not-for-profit organizations and leaders in primary industries that include Life Sciences/Biotechnology; Technology & Communications; Energy & Clean Technology; Financial Services & Insurance; Healthcare; Real Estate, Hospitality & Construction; and Retail & Consumer Products. Our practical knowledge combined with our industry expertise enables us to provide our clients with enterprise legal advice that gives their business a competitive advantage in the marketplace. For detailed information on the firm we invite you to visit www.mintz.com.