Easterly Asset Management Partners with Lateral Investment Management for Growth Buyouts

Leveraging their respective strengths, Easterly Asset Management and Lateral Investment Management have announced a strategic partnership. Easterly, a multi-affiliate platform for high-performing boutique investment firms, will provide Lateral with its robust platform to support lower-middle market businesses facing significant growth. As a private equity firm, Lateral focuses on transformational growth buyouts at owner-operated middle market businesses. Together, Easterly and Lateral have already co-invested $35 million in Morae Global, helping to accelerate its trajectory as the leading provider of technology and managed solutions for the global legal industry.

Lateral specializes in providing first institutional growth capital to established and profitable lower-middle market companies in the technology and business services sectors. Through majority and structured minority equity stakes, as well as strategic support, Lateral aims to transform and accelerate business growth in partnership with high-conviction business owners.

According to Darrell Crate, Founder and Managing Principal of Easterly Asset Management, "Lateral is a highly differentiated firm with a track record of turning successful, profitable companies into market leaders." He further states, "We are excited to partner with Mr. de Silva and the Lateral team to scale their unique private equity strategy by unlocking access for investors to allocate growth capital to independent, bootstrapped, and family-owned businesses underserved by typical buyout firms."

In addition to its robust platform, Easterly brings a seasoned client team to enhance Lateral's distribution in retail and institutional channels. This partnership will amplify Lateral's talent and product development goals, as well as enhance its communications and marketing efforts.

Richard de Silva, Founder and Managing Partner of Lateral, expressed his enthusiasm about joining forces with Easterly: "Easterly's deep experience with boutique firms will accelerate our growth and expand our investor base so that we can execute on our robust pipeline of transformational private equity investments." He also emphasized the significance of the partnership in supporting Morae's vision, business strategy, and growth plans for the global legal market.

Lateral Investment Management, headquartered in San Mateo, California, provides first institutional growth capital ranging from $25 million to $75 million. Their mission is to enable transformational growth at independent owner-operated businesses in the technology and business services sectors. Lateral invests in established businesses that can become market leaders, partnering with successful business owners who have high conviction in their future growth. Their investments accelerate the growth trajectories of companies that need substantial capital and support to scale to the next level.

Easterly Asset Management, on the other hand, is a multi-affiliate platform that celebrates and supports the talent of boutique managers and teams. They partner with quality managers who possess deep domain expertise to bring investors innovative investment strategies. Easterly provides best-in-class solutions in marketing, sales, technology, operations, human resources, and finance to scale their partners' businesses. With over 20 investment professionals, Easterly offers a range of products including separate accounts, SMAs, 40 Act Funds, CITs, and private placements, managing nearly $3 billion in assets as of September 30, 2023.

The strategic partnership between Easterly Asset Management and Lateral Investment Management is expected to fuel growth and expansion for both firms. By leveraging Easterly's platform, Lateral will have the opportunity to access a wider investor base and execute on their pipeline of transformational private equity investments. This collaboration showcases the power of partnership and the potential for driving success in the financial services industry.