Foreside Financial Group, LLC (Foreside), a provider of governance, risk management, and compliance service and technology offerings to clients in the global asset and wealth management industry, has acquired the compliance consulting practice of Golden Bear Consulting Group, LLC (Golden Bear), a boutique regulatory compliance consulting firm based in Newport Beach, California.
Founded in 2015, Golden Bear partners with private equity funds, hedge funds, emerging managers, and wealth managers, to offer a robust suite of compliance consulting solutions. This acquisition complements Foreside’s private funds practice while also expanding its West Coast presence.
“Golden Bear has ensured client success by helping them meet regulatory requirements through creative and practical compliance solutions that instill confidence in their investors,” says David Whitaker, president of Foreside. “Golden Bear shares our values of providing consistent quality of service with integrity, accountability, and innovation to its portfolio of clients. We are proud to welcome them to our team.”
“In joining with Foreside, we are able to deepen and expand the capabilities of our investment advisor consulting practice with a partner that shares our client-centered approach,” says Aman Ahluwalia, founder and CEO of Golden Bear. “I am thrilled about what is in store for our clients, and how much they will benefit from this new relationship. We have worked hard to develop long-lasting and quality relationships with our clients. I am certain this move will allow us to serve as trusted partners to our existing clients for years to come.”
Golden Bear’s employees will join Foreside as part of the acquisition and will continue to operate from Southern California.
For Foreside, which is majority-owned by PE firm Lovell Minnick, this marks the seventh acquisition since 2019 as it continues to add to and strengthen various parts of its business, from consulting services to technology offerings. The other acquisitions include NCS Regulatory Compliance, Compliance Advisory Services, Quasar Distributors, ICSGroup, Capital Markets Compliance, and JG Advisory Services.
Financial terms of the Golden Bear transaction have not been disclosed.
