PALM BEACH GARDENS, FL – Nile Capital Group, a sector focused growth private equity firm, today announced that it has completed a majority investment in Convergence Investment Partners.

Nile Capital Group (“Nile”) LLC is pleased to announce a partnership with Convergence Investment Partners (“Convergence”) as a majority member and strategic advisory partner. Nile acquired the majority stake from Montage Investments, LLC. Nile is a private equity firm founded by Melvin Lindsey, CFA, that provides capital as well as strategic support to enable talented asset managers to grow in a sustainable fashion. The Nile team averages over 25 years of experience in the asset management and private equity industries. The deal is structured as a long-term partnership, which enables Convergence to focus on autonomy, superior performance, and best in class client service.

“We are confident that we have found a strong partner in Nile and believe they will add significant value to our business,” said David Abitz, President and CIO of Convergence. “We believe we are at a critical inflection point in our life cycle and now is the right time to partner with a team such as Nile’s who shares our core values and vision for the company.”

“Convergence is the ideal high caliber asset manager in which Nile seeks to invest, and we are very pleased to become a partner in this performance-driven and innovative firm,” stated Mel Lindsey. “The firm’s unique processes and risk control methodology for generating superior risk-adjusted returns positions the company well for continued growth while maintaining positive experiences for its clients. The firm’s flagship Market Neutral strategy recently received a 5-Star Overall Morningstar Rating™. Given the current market valuations, we believe investors’ appetite will increase for liquid alternative strategies like this one”.

Investments are subject to risk. Investors should consider the investment objective, risk charges and fees of any investment vehicle before investing. For more information, please contact David Abitz at 262.240.0117 or visit www.investcip.com

About Convergence Investment Partners

Convergence Investment Partners is an active equity manager dedicated to managing risk controlled non-correlated equity strategies. The team’s experience spans decades of investing based on fundamental stock picking combined with advanced technology. This has led to Convergence’s team developing systematic stock selection strategies that can help garner powerful results. Convergence uses its proprietary process to select and rank investments, construct portfolios, and help manage risk in each of its products.