Pamlico Capital makes growth investment in Aite-Novarica Group
Pamlico Capital (Pamlico) has made a growth investment in Aite-Novarica Group (ANG), a provider of subscription research and advisory services to financial institutions and the technology and service providers that support them.
Pamlico’s investment in ANG is the outcome of a partnership with executive Kurt Reisenberg to find and invest in a niche data and insights business. As a result of the partnership, Kurt proactively identified Aite Group and Novarica, Inc. as market-leading insights and advisory firms—an ideal fit for the partnership thesis. Supported by Pamlico, Kurt will lead the combined Aite-Novarica Group as CEO as the Company continues to scale and seek out additional complementary assets to acquire.
“The ANG team is incredibly excited to be embarking upon this next chapter of growth together, as a single company,” says Reisenberg. “With the backing of Pamlico, we look forward to continuing to build the platform and deliver even more strategic insights and solutions to our clients in the rapidly evolving financial services sector.”
“Aite Group has had exceptional growth since our founding and has established a leading presence in the financial services sector. Joining forces with Novarica and partnering with Pamlico to further accelerate our growth trajectory is a natural next step as we seek to continually find ways to better serve our clients,” adds Frank Rizza, co-head of sales at ANG and co-founder of Aite Group.
“Novarica’s deep domain expertise in the insurance sector is a fantastic fit with ANG’s broader offerings, and we look forward to being able to bring additional insights from adjacent financial services verticals to our insurer CIO clients,” says Matthew Josefowicz, Novarica founder.
“When we first launched the partnership with Kurt as part of our broader information services efforts, ANG was exactly the sort of platform we were looking for,” says Scott Stevens, Pamlico partner. Pamlico Principal Jay Henry added, “Kurt’s experience at CEB and Gartner position him well to lead ANG through this next phase of growth, and we’re excited to partner with the ANG team and help them continue to scale the impressive business they have built.”
Aite Group was advised by JEGI-CLARITY (exclusive financial advisor) and Burns & Levinson LLP (legal advisor). Novarica, Inc. was advised by Wyrick Robbins Yates & Ponton LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).