Advanced Capital Securities, a Latin American investment bank, has completed the purchase of Lake Forest Securities LLC, a Chicago-based broker-dealer, which specializes in high-grade corporate fixed income securities and municipal bonds. The sale, which was initially announced in April, received final approval on August 20th from FINRA, the Financial Industry Regulatory Authority. Lake Forest Securities will now operate under the name of AdCap Securities.
With the acquisition of Lake Forest, Miami-based Advanced Capital expands its U.S. client base and broadens its product offerings, as well as its research capabilities, for its international clients, primarily in Latin America. Advanced Capital has brokerage, capital markets and asset management operations in Argentina, Uruguay and Peru.
"The acquisition of Lake Forest, which operates in six States, not only expands our footprint in the United States," said Daniel Canel, CEO of Advanced Capital Group, “but also deepens our expertise in the U.S. corporate and government bond markets, as well as our overall market intelligence. It’s another key piece in our regional capital markets strategy.” In February, Advanced Capital acquired Latmark Asset Management LLC, a boutique investment advisor based in Miami.
Advanced Capital is a regional investment bank that operates in the capital markets of both Latin America and the U.S. “The fact that Advanced Capital is headquartered in the United States, with execution capabilities in its equity and fixed income markets, provides our clients in Latin America a stamp of approval for our regulatory infrastructure and corporate governance,” said Gustavo Dominguez, CEO of AdCap Securities.
Lake Forest Securities, founded in 1998, operates in the U.S. Mid-West, specifically in Illinois, Ohio, Wisconsin and Michigan, as well as the southern States of Texas and Florida. The broker-dealer is primarily focused in high-grade corporate fixed income and municipal bonds, but also engages in equities trading, mutual funds and mortgages trading.
Lake Forest is a strategic addition to Advanced Capital’s international platform, which it has been building through acquisitions across the Americas. Following the acquisition of Latmark in February, the firm purchased Andes Securities SAB and Andes Securities SAFI, a leading brokerage firm and investment fund manager in Peru.
With established brokerage, asset management and investment banking talent and capabilities across Latin America and in the U.S., Advanced Capital has a regional footprint that allows it to offer investment opportunities to clients, as well as capital raising services for emerging companies in Latin America. “Our geographic diversification gives us unparalleled insight and access,” says CEO Canel. “The cross-fertilization and cross-border synergies that this generates is unmatched in our industry.”