BlackFin-backed IBS Capital Allies to acquire Philipse & Co.

BlackFin-backed IBS Capital Allies, an investment management firm, agreed to acquire Philipse & Co, an independent asset manager that primarily provides wealth management services to private clients, institutional investors and foundations. Financial terms were not disclosed. "With this acquisition, we are fulfilling our strategy to strengthen our position as the largest independent asset manager in the Netherlands. It's the first acquisition since private equity fund manager BlackFin Capital Partners came on board. IBS is an entrepreneurial organization, both in its client approach and investment policy," Harold Knebel, IBS Capital Allies CEO.