NewStar Completed Its Acquisition of Boston-based FOC Partners, a Credit-Oriented Investment Manager With $2.3 Billion of Assets Under Management and Authorized a New Share Repurchase Plan

NewStar Financial announced it has completed its previously announced acquisition of Feingold O’Keeffe Capital, d/b/a FOC Partners, a private alternative asset management firm based in Boston, MA for $19.3 million, net of acquired cash.  The acquisition adds approximately $2.3 billion to NewStar’s assets under management, increasing total pro forma AUM to approximately $6.4 billion.

FOC will operate as NewStar Capital, a wholly-owned subsidiary of NewStar Financial, and will continue to be based in Boston. 

NewStar also said its Board of Directors has authorized the repurchase of up to $5 million of the company’s common stock from time to time on the open market or in privately negotiated transactions.  The timing and amount of any shares repurchased will be determined by the company’s management based on its evaluation of market conditions and other factors.