CITIC Securities Makes Strategic Investment In US Brokerage Firm BTIG


Global brokerage firm BTIG LLC says it has received a strategic investment from Hong Kong-based brokerage firm CLSA. The deal’s value and terms are not disclosed, according to a company announcement.

BTIG and its global affiliates will continue to operate as fully independent organizations.

CLSA is 100% owned by CITIC Securities, China’s largest brokerage firms by market value.

BTIG specializes in global trading and fund services for hedge funds, mutual funds, separate accounts and family offices.

The firm has 450 staff working in nine U.S. offices and four international locations.

"The investment by CLSA will help us pursue continued growth in our core businesses and help us expand into new areas," says Scott Kovalik, co-founder and CEO of BTIG.

This is another overseas acquisition by CITIC following its takeover of CLSA.

CITIC acquired a 19.9% stake of CLSA in 2012 from Crédit Agricole, and took over the remaining 80.1% last year.

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