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Perella Weinberg Partners Reaches Agreement with Asset Based Value Strategy Investment Team

NEW YORK--(BUSINESS WIRE)--Perella Weinberg Partners today announced that it has reached an amicable agreement, resolving all litigation and outstanding issues with David Schiff, the Asset Based Value Strategy Portfolio Manager & Partner, along with Partners Andrew Dym and Mark McGreenery (“the ABV Investment Team”). Under the terms of the agreement, the ABV Investment Team will separate and transition to a new to be formed independent registered investment advisor that will become a sub-advisor to the existing funds. This transition will provide the necessary investment management continuity for the remaining term of the $1.7 billion of assets under management so that the Investment Team can continue to maximize value for investors.

Robert K. Steel, Chief Executive Officer, Perella Weinberg Partners, stated, “The Firm, David and the ABV Investment Team and our...