{"id":408855,"date":"2021-01-05T13:59:25","date_gmt":"2021-01-05T18:59:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=408855"},"modified":"2021-01-05T13:59:25","modified_gmt":"2021-01-05T18:59:25","slug":"holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/","title":{"rendered":"HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Jan. 5, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0HoldCo Asset Management, LP and its managed funds (collectively, &#8220;HoldCo&#8221;) own 4,049,713 shares of common stock of Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (&#8220;BPFH&#8221;), representing approximately 4.9% of its outstanding shares. <\/p>\n<p>Earlier today, HoldCo released the following press release outlining significant concerns with BPFH&#8217;s announced merger with SVB Financial Group including the Board&#8217;s apparent failure to run a comprehensive, competitive sale process to maximize value for shareholders:<\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3026716-1&amp;h=1294755461&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fholdco-asset-management-expresses-significant-concerns-regarding-svb-financial-groups-proposed-acquisition-of-boston-private-financial-holdings-301200817.html&amp;a=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fholdco-asset-management-expresses-significant-concerns-regarding-svb-financial-groups-proposed-acquisition-of-boston-private-financial-holdings-301200817.html\" rel=\"nofollow noopener noreferrer\">https:\/\/www.prnewswire.com\/news-releases\/holdco-asset-management-expresses-significant-concerns-regarding-svb-financial-groups-proposed-acquisition-of-boston-private-financial-holdings-301200817.html<\/a>\n      <\/p>\n<p>Subsequently, we received an unsolicited email from <span class=\"xn-person\">Scott Kavanaugh<\/span>, the Chief Executive Officer of First Foundation Inc. (&#8220;FFWM&#8221;), a <span class=\"xn-location\">California<\/span>-based bank that we had identified in our presentation as a logical merger partner for BPFH.\u00a0 The contents of this email raise serious questions regarding the integrity of the process undertaken by BPFH to maximize value for shareholders. A copy of the public letter, which includes a copy of Mr. Kavanaugh&#8217;s email, can be found at the following link: <\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3026716-1&amp;h=1550187194&amp;u=http%3A%2F%2Fwww.holdcoam.com%2Fwp-content%2Fuploads%2FSecond_Letter_to_BPFH.pdf&amp;a=http%3A%2F%2Fwww.holdcoam.com%2Fwp-content%2Fuploads%2FSecond_Letter_to_BPFH.pdf\" rel=\"nofollow noopener noreferrer\">http:\/\/www.holdcoam.com\/wp-content\/uploads\/Second_Letter_to_BPFH.pdf<\/a>\n      <\/p>\n<p>\n        <b>About HoldCo Asset Management<\/b>\n      <\/p>\n<p>HoldCo Asset Management, LP is an investment adviser located in New York City.\u00a0HoldCo was founded by\u00a0Vik Ghei\u00a0and\u00a0Misha Zaitzeff.\u00a0HoldCo currently has over\u00a0$900 million\u00a0in regulatory assets under management. \u00a0<\/p>\n<p>\n        <b><br \/>\n          <u>Disclaimer<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>This press release as well as the letters and presentation available through the above links (collectively, the &#8220;HoldCo Materials&#8221;) are for discussion and general informational purposes only.\u00a0 The HoldCo Materials are not investment advice, an investment recommendation, or an offer to buy or sell or the solicitation of an offer to buy or sell any securities, including without limitation any interests in a fund managed by and\/or associated with HoldCo.<\/p>\n<p>The views of HoldCo contained in the HoldCo Materials are based on publicly available information with respect to Boston Private and certain other companies discussed in the HoldCo Materials.\u00a0 HoldCo recognizes that there may be nonpublic information in the possession of BPFH or others that could lead BPFH and others to disagree with HoldCo&#8217;s analyses, conclusions or opinions.<\/p>\n<p>Certain financial information and data used in the HoldCo Materials have been obtained or derived from public filings, HoldCo&#8217;s internal estimates and research, industry and general publications, research conducted by third parties and other sources. HoldCo has not sought or obtained consent from any third parties to use any statements or information indicated in the HoldCo Materials as having been obtained or derived from statements made or published by third parties. Any such statements or information attributed to a third party should not be viewed as indicating the support of such third party for the views expressed in the HoldCo Materials.\u00a0 No agreement, arrangement, commitment or understanding exists or shall be deemed to exist between HoldCo and any third party by virtue of using such statements or information or furnishing the HoldCo Materials.<\/p>\n<p>Except for the historical information contained in the HoldCo Materials, the matters addressed in the HoldCo Materials are forward-looking statements that involve certain risks and uncertainties.\u00a0 You should be aware that actual results may differ materially from those contained in the forward-looking statements.\u00a0 HoldCo may change any of its opinions expressed in the HoldCo Materials at any time, and HoldCo is under no obligation to update any information, opinions or statements contained in the HoldCo Materials.<\/p>\n<p>None of HoldCo, its affiliates or their respective directors, officers, employees, shareholders, members, partners, managers or advisors shall be responsible or have any liability to any person in relation to the distribution or possession of the HoldCo Materials in any jurisdiction.\u00a0 No warranty is made that any data or information in the HoldCo Materials is accurate.\u00a0 None of HoldCo, its affiliates or their respective directors, officers, employees, shareholders, members, partners, managers or advisors shall be responsible or have any liability for any misinformation, errors or omissions contained in the HoldCo Materials. <\/p>\n<p>A fund managed by HoldCo has invested in the securities of BPFH and consequently has an economic interest in the price of these securities.\u00a0 HoldCo may increase, decrease or hedge such investment in BPFH, or otherwise change the form of such investment in BPFH, for any or no reason at any time.\u00a0 HoldCo disclaims any duty to provide updates or changes to the manner or type of any investment in BPFH or other company.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY38007&amp;sd=2021-01-05\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings-301201338.html\">http:\/\/www.prnewswire.com\/news-releases\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings-301201338.html<\/a><\/p>\n<p>SOURCE  HoldCo Asset Management<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY38007&amp;Transmission_Id=202101051355PR_NEWS_USPR_____NY38007&amp;DateId=20210105\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, Jan. 5, 2021 \/PRNewswire\/ &#8212;\u00a0HoldCo Asset Management, LP and its managed funds (collectively, &#8220;HoldCo&#8221;) own 4,049,713 shares of common stock of Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (&#8220;BPFH&#8221;), representing approximately 4.9% of its outstanding shares. Earlier today, HoldCo released the following press release outlining significant concerns with BPFH&#8217;s announced merger with SVB Financial Group including the Board&#8217;s apparent failure to run a comprehensive, competitive sale process to maximize value for shareholders: https:\/\/www.prnewswire.com\/news-releases\/holdco-asset-management-expresses-significant-concerns-regarding-svb-financial-groups-proposed-acquisition-of-boston-private-financial-holdings-301200817.html Subsequently, we received an unsolicited email from Scott Kavanaugh, the Chief Executive Officer of First Foundation Inc. (&#8220;FFWM&#8221;), a California-based bank that we had identified in our presentation as a logical merger partner for BPFH.\u00a0 The contents of this email raise serious questions &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-408855","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, Jan. 5, 2021 \/PRNewswire\/ &#8212;\u00a0HoldCo Asset Management, LP and its managed funds (collectively, &#8220;HoldCo&#8221;) own 4,049,713 shares of common stock of Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (&#8220;BPFH&#8221;), representing approximately 4.9% of its outstanding shares. Earlier today, HoldCo released the following press release outlining significant concerns with BPFH&#8217;s announced merger with SVB Financial Group including the Board&#8217;s apparent failure to run a comprehensive, competitive sale process to maximize value for shareholders: https:\/\/www.prnewswire.com\/news-releases\/holdco-asset-management-expresses-significant-concerns-regarding-svb-financial-groups-proposed-acquisition-of-boston-private-financial-holdings-301200817.html Subsequently, we received an unsolicited email from Scott Kavanaugh, the Chief Executive Officer of First Foundation Inc. (&#8220;FFWM&#8221;), a California-based bank that we had identified in our presentation as a logical merger partner for BPFH.\u00a0 The contents of this email raise serious questions &hellip; Continue reading &quot;HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-05T18:59:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY38007&amp;sd=2021-01-05\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings\",\"datePublished\":\"2021-01-05T18:59:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\\\/\"},\"wordCount\":735,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=NY38007&amp;sd=2021-01-05\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\\\/\",\"name\":\"HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings - 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(NASDAQ: BPFH) (&#8220;BPFH&#8221;), representing approximately 4.9% of its outstanding shares. Earlier today, HoldCo released the following press release outlining significant concerns with BPFH&#8217;s announced merger with SVB Financial Group including the Board&#8217;s apparent failure to run a comprehensive, competitive sale process to maximize value for shareholders: https:\/\/www.prnewswire.com\/news-releases\/holdco-asset-management-expresses-significant-concerns-regarding-svb-financial-groups-proposed-acquisition-of-boston-private-financial-holdings-301200817.html Subsequently, we received an unsolicited email from Scott Kavanaugh, the Chief Executive Officer of First Foundation Inc. (&#8220;FFWM&#8221;), a California-based bank that we had identified in our presentation as a logical merger partner for BPFH.\u00a0 The contents of this email raise serious questions &hellip; Continue reading \"HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-05T18:59:25+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY38007&amp;sd=2021-01-05","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings","datePublished":"2021-01-05T18:59:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/"},"wordCount":735,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY38007&amp;sd=2021-01-05","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/holdco-asset-management-issues-second-public-letter-to-boston-private-financial-holdings\/","name":"HoldCo Asset Management Issues Second Public Letter To Boston Private Financial Holdings - 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