Avalon Advisors, LLC


Industry: Financial Services

Investment Date: March 2008

Headquarters: Houston, TX

Website: www.avalonadvisors.com

Company Overview:

Avalon is an asset management firm that manages equity, fixed income and alternative products for wealthy families, endowments, foundations and trusts. With approximately $6.0 billion in assets under management, Avalon combines the in-house talents of nationally recognized investment managers with experienced client advisors to provide superior investment management and differentiated investment advice to its clients.

The Company’s investment team is led by Henry Lartigue (Avalon’s Chief Investment Officer and Founding Partner). Mr. Lartigue was previously a Managing Director of J.P. Morgan Chase and Chief Investment Officer of Chase Asset Management, with oversight for $80 billion in assets of institutional and private clients.

The client advisory team is led by Founding Partner, Robert Gauntt, Willie Langston and Kevin Lilly, who have 60 years of combined investment management and client advisory experience. Robert, Willie and Kevin worked together in the private wealth management divisions of Goldman Sachs and Morgan Stanley before founding Avalon.

Transaction Background:

The Platform team followed Avalon since its inception in 2001. We had a personal relationship with Avalon’s Founders and believed the asset management industry and Avalon, in particular, represented a great long-term investment opportunity.

In late 2007, we approached Avalon to discuss a strategic minority investment and quickly agreed with Avalon’s Founders that a partnership could be mutually beneficial. Platform’s role in the partnership is to provide guidance on the necessary infrastructure and strategy to continue to build upon an already successful platform.

In 2011, The Carlyle Group made a significant minority investment in Avalon. The Carlyle transaction allowed Platform to receive an attractive return on our original investment, while continuing as a minority shareholder in partnership with Carlyle and the Avalon Founders.