Thomas Haynes, Founder and CEO, Fund Formation Group [Photo: LInkedIn]
Fund Formation Group, founded in 2020 and based in Dallas and operating fund structures for registered investment advisors (RIAs) and wealth advisors, is launching a turnkey alternative investment platform and alternative asset management based in Cleveland, Ohio. It was acquired by the company GLASfunds.
Terms of the deal were not disclosed.
Thomas Haynes, Founder and CEO of Fund Formation Group, previously served as Vice President of PPB Capital Partners.Before that, he spent 10 years there
“GLASfunds is democratizing alternative investing for RIAs by making it efficient, streamlined, and scalable, which will lead to stronger outcomes for clients,” Haynes said in a statement. “I am excited to join this innovative and forward-thinking team and further their mission of making it easy and simple for financial advisors to pursue global private investments.”
Mr. Haynes joins GLASfunds as Business Development Director
The acquisition is expected to close in early October. At that point, Mr. Haynes will join GLASfunds as Director of Business Development. “GLASfunds' clients will benefit from Mr. Haynes' deep alternatives expertise and GLASfunds' expanded presence in the Dallas, Texas area,” GLASfunds said.
Founded in 2009, GLASfunds is a technology-enabled platform that provides investors with secure, streamlined digital access to institutional quality alternative investment opportunities and asset management oversight.
As part of the acquisition, GLASfunds will now offer FFG's clients a complete suite of private market investments and technology resources, enabling them to “deploy custom alternative investments at greater scale and efficiency.”
“We saw a real opportunity to build on the great work Fund Formation Group was already doing for this particular group of RIAs looking to access alternatives in a highly customized way. ” said Michael Maroon Jr., Managing Director of GLASfunds. statement. “We are excited about the opportunity to provide end-to-end private market solutions to these companies and believe Tom will be an invaluable addition to the GLASfunds team.”
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