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PCG AM spins off from Pacific Corporate Group21/02/2007. Source: AltAssets. 
 Pacific Corporate Group Asset Management, which was formed in 2005 as a business unit of California-based investment management and advisory firm Pacific Corporate Group, has been spun-off and re-established as a separate, independent, employee-owned firm.
PCG AM said it will focus solely on private equity investment advisory and consulting services for discretionary and non-discretionary clients. The firm will oversee and/or advise on assets with a total value of around $15bn on behalf of clients such as institutional private equity, leveraged buy-out and venture capital investors.
Headquartered in La Jolla, California, PCG AM will be owned by senior investment professionals including PCG’s founder, Christopher J Bower. PCG AM’s management will report directly to its board of directors, which will include Bower. In addition to his role as a member of the PCG AM board of directors, Bower will continue in his role as CEO of PCG Capital Partners, an indirect affiliate of PCG AM engaged in direct investing and co-investing, and will serve as managing member of PCG Holdings.
PCG AM said that concurrent with its formation, three individuals have agreed to serve alongside Bower as independent members of the firm’s newly formed board of directors: Gerard K Drummond, Robert H Smith and Frank R Kline.
Bower noted, ‘The formation of PCG AM as a separate and independent legal entity creates a focused, client-centric private equity fund investment advisory and consulting firm. Many of our major and long-standing clients, including CalPERS, shared our view that it would be helpful to create an employee-owned organisation that has dedicated professionals solely aimed at providing its clients with exceptional service and the best private equity fund investment advice. As such, PCG AM is now well-positioned to serve its clients with commitment and dedication.
‘The appointments of Drummond, Smith and Kline will enable PCG AM’s ascent to the next level. Each is a highly experienced and successful business executive and investor who will bring important and valuable industry perspectives,’ Bower added.
PCG will continue as an investment management firm targeting alternative investments.
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