Tactex F1 Private Equity Fund sells stake in Castle Rock Innovations, Inc.

Tactico

Oct 16 - 3 Min read

Montreal, October 16, 2015 — Tactex F1 Private Equity Fund LP (“F1 Fund”) announced the sale of its equity investment in Castle Rock Innovations, Inc. (“Castle Rock”) resulting in the acquisition of Castle Rock by Envestnet, Inc. (“Envestnet”).

“We believe Envestnet has the distribution channels and brand that will best unlock Castle Rock’s potential. This holds great promise for our investors as we are heavily aligned with Envestnet as to the future success of Castle Rock,” said Liam Cheung, President of Tactex General Partner Inc., general partner of the F1 Fund and partner at Tactico Inc. (“Tactico”).

By providing a combination of debt, equity and strategic consulting, the F1 Fund helped Castle Rock launch a major growth initiative for the revolutionary Axis Retirement Plan Analytics Platform TM for use by the U.S. pension fund industry.

The F1 Fund worked closely with Castle Rock’s management in all facets of the business including strategy, finance and merger and acquisition consulting.

“The F1 Fund provided us with funding at a crucial time for our business,” said Kash Sarrafi, CEO and co-founder of Castle Rock. “Since joining our management team, the F1 Fund has provided significant operational and financial management support, and most recently, valuable guidance, expertise and strategic advice for our transaction with Envestnet. They have been great partners.”

About Castle Rock Innovations, Inc. and Axis

Castle Rock Innovations, Inc. has been serving the financial industry for over 20 years by providing clients with technology that improves efficiency and creates value. In anticipation of 401(k) fee disclosure regulations that were introduced in 2012 by the U.S. Department of Labor, Castle Rock Innovations, LLC (CRI) developed the Axis Retirement Analytics Platform TM, a real-time, web-based platform that allows broker-dealers, record keepers, banks and retirement plan fiduciaries to meet these regulatory fee disclosure reporting requirements. Today, the Axis Retirement Analytics Platform TM is an industry leading product used by 10 of the top 20 broker-dealers in the nation and more than 100 clients.

Castle Rock Innovations, Inc. is a privately-owned and operated corporation with headquarters in Chicago, Illinois and offices throughout the U.S. Castle Rock Innovations has been recognized by Inc. 500 in 2009 and 2010 as one of the fastest-growing private companies.

About Tactex F1 Private Equity Fund

The Tactex F1 Private Equity Fund is an investment fund established in 2013 that focuses on direct investments in cash flow positive small-cap entities or start-up firms through a combination of debt, preferred shares and-or common shares. The fund provides close support to management of its portfolio investments and is available only to select qualifying investors. The F1 Private Equity Fund is managed by Tactex General Partner Inc. as general partner of the fund.

Contact: Media Relations: media@tactex.ca