Home Industries Banking & Finance Baird acquires minority stake in Minneapolis-based financial services firm

Baird acquires minority stake in Minneapolis-based financial services firm

By
Ashley Smart
-
Steve Booth
Steve Booth, chairman and CEO of Baird. Credit: Valerie Hill

Milwaukee-based financial services firm Baird has acquired a minority stake in Minneapolis-based Octavus Group, the parent company of LoCorr Funds. LoCorr Funds is headquartered in Excelsior, Minnesota and is a leader in low-correlating alternative investments. The firm was founded in 2003 on the belief that non-traditional investments with low correlation to stocks and bonds can

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Ashley Smart
Ashley covers startups, technology and manufacturing for BizTimes. She was previously the managing editor of the News Graphic and Washington County Daily News. In past reporting roles, covering education at The Waukesha Freeman, she received several WNA awards. She is a UWM graduate. In her free time, Ashley enjoys watching independent films, tackling a new recipe in the kitchen and reading a good book.
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Milwaukee-based financial services firm Baird has acquired a minority stake in Minneapolis-based Octavus Group, the parent company of LoCorr Funds. LoCorr Funds is headquartered in Excelsior, Minnesota and is a leader in low-correlating alternative investments. The firm was founded in 2003 on the belief that non-traditional investments with low correlation to stocks and bonds can increase diversification, reduce risk and enhance portfolio returns. Terms of the deal were not disclosed. “We are thrilled to announce our partnership with Baird. As a key distribution platform for LoCorr Funds for many years, we envision a seamless collaboration that will amplify our current market presence and elevate our wealth management capabilities,” said Kevin Kinzie, founder and chief executive officer of Octavus Group. “The fusion of our organizations’ strengths opens doors to greater market penetration, specialized expertise, innovative product development, and expansion across product lines and distribution channels.” Baird will assume two seats on Octavus Group’s Board of Governors. This is Baird’s fourth strategic minority investment in the asset management space.

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