Alger Group Holdings Acquires Redwood Investment Management

Alger Group Holdings LLC, the $22 billion fund manager run by Dan Chung, agreed to acquire Redwood Investments as the growth equity investor looks to expand its presence in the market. Based in New York City, Alger is a women-owned and minority-led growth equity investment manager. The deal, set to be finalized by January 31, 2024, will see Redwood Investments join forces with Alger Group Holdings to create a formidable player in the global investment management industry.

Redwood Investments, a global growth equity manager with more than $1.6 billion in assets under management, will bring its expertise and resources to the table as part of the acquisition. This move is expected to enhance Alger's investment capabilities and broaden its product offerings to clients. The acquisition reflects Alger's commitment to strategic growth and innovation in the ever-evolving financial landscape.

Redwood Wealth Management Group LLC, known for its strategic investment approach, recently increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.5% in the 4th quarter. This demonstrates the firm's confidence in the growth potential of leading technology companies and aligns with the investment philosophy of Alger Group Holdings. The acquisition of Redwood Investment Management is poised to further strengthen Alger's position in the market.

In his new role at Redwood Investment Management, Mr. Calvanese will oversee the firm's private market investments division. Leveraging his extensive experience and expertise, he aims to drive value and growth for clients while maintaining a focus on risk management and long-term sustainability. This strategic leadership will play a crucial role in shaping the future direction of Redwood Investment Management under Alger Group Holdings.

Redwood Materials, based in Carson City, Nevada, recently completed a successful equity funding round, raising over $1 billion in Series D funding. The company, known for its innovative approach to battery materials, continues to expand its presence at the Tahoe Reno Industrial Center. With nearly $2 billion raised to date, Redwood Materials is positioned for further growth and development in the sustainable energy sector.

Redwood Investment Management, an institutional investment management firm, specializes in working exclusively with financial advisors to deliver risk® solutions. This unique approach focuses on managing risk while seeking attractive investment opportunities for clients. The acquisition by Alger Group Holdings will further enhance Redwood's capabilities and strengthen its position in the competitive investment management industry.