Market Overview

Emerald Asset Management and 1251 Capital Group Agree to Partnership


1251 Capital Group investment and expertise will strengthen
Emerald, its team and product line-up

Emerald Asset Management and 1251 Capital Group announced today that
they have agreed to form a partnership between Emerald and 1251 to
position Emerald for future growth by enhancing the Emerald team and its
line-up of investment products.

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Under the agreement, 1251 Capital Group will acquire a partnership stake
in Emerald Asset Management, while its senior management will join
Emerald's Board of Directors. Emerald's current executive and management
team will continue to independently manage day-to-day operations and
retain full control of the investment process and function.

With $5.6 billion in assets under management as of June 30, 2018,
employee-owned Emerald is best known for its "Driven by Research"
investment approach. Emerald employs an intense fundamental,
research-focused investment philosophy and focuses primarily on growth-
and value-oriented equity investing and income-oriented investing in
small-cap, mid-cap and all-cap categories, as well as offering a
sector-focused banking and finance strategy.

"This is a win-win for Team Emerald and our clients," said Emerald
Founder and CEO Joseph Besecker. "Our team will continue to execute its
successful investment strategies, with 1251 adding valuable expertise,
enhancing employee retention and strengthening Emerald's balance sheet."

Significant ongoing employee ownership as well as other incentives
created through the partnership will support the retention of key
Emerald investment talent, Besecker said. Emerald will retain its
independence and autonomy over the management of its business,
investment philosophy and culture, Besecker added, while benefiting from
an experienced partner.

"We are thrilled to be partnering with a money management firm of
Emerald's caliber," said 1251 Capital Co-CEO Michael Wilson. "Their
long-term investment record, team-oriented culture and dedication to
their clients over the past two-plus decades are extraordinary and
attractive to a long-term partner like 1251."

The transaction is contingent upon the consent of Emerald's
institutional and mutual fund clients as well as certain other customary
closing conditions, and is expected to close in late September. Terms of
the transaction were not disclosed.

"The Emerald platform features an accomplished investment team with a
track record spanning over twenty-five years, and we are thrilled at the
chance to partner with such a high quality organization to support its
continued success and stability," said John Hailer, President of 1251
Asset Management. "This partnership will position Emerald for future
growth through its newer products, enable greater product
diversification and provide access to multiple new channels of

About 1251 Capital Group

1251 Capital Group, Inc. is a Financial Services holding company with
deep investing and operating experience in the asset management and
insurance sectors. The firm was established to invest the capital of its
founders and a select group of like-minded, outside shareholders
consisting primarily of prominent family offices. 1251 is structured as
a corporate holding company with a permanent capital base, aligning the
1251 organization, management teams, and 1251's shareholders around the
common objective of creating shareholder value over the long-term. In
addition, 1251 is an experienced value-added operating partner that can
provide the strategic resources necessary to accelerate growth in the
businesses with which it partners, empowering management teams to build
enduring businesses that achieve their full potential. For more
information, please visit

About Emerald Asset Management

Founded in 1991, Emerald provides equity and fixed-income portfolio
management services to institutional investors and to individual
investors via separate account management and the Emerald Mutual Funds.
Emerald focuses primarily on growth- and value-oriented equity investing
and income-oriented investing.
Research is the cornerstone of
Emerald's equity investment strategies: "The Emerald Advantage."
16 member in-house research team uses a proprietary 10-Step research
process dedicated to intense, hands-on, fundamental research
specifically designed to identify unrecognized and under-researched
For more information, please visit

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