Dallas-Based Fund Formation Group Acquired by Cleveland Firm

The Dallas firm operates fund structures for registered investment advisors and wealth advisors. It's being acquired by Cleveland-based GLASfunds, a turnkey alternative investment platform and alternative asset management firm.

The Fund Formation Group—a Dallas-based firm founded in 2020 that operates fund structures for registered investment advisors (RIAs) and wealth advisors—has been acquired by GLASfunds, a turnkey alternative investment platform and alternative asset management firm based in Cleveland, Ohio.

Terms of the deal were not disclosed.

Thomas Haynes, founder and CEO of the Fund Formation Group, was previously a vice president at PPB Capital Partners. Before that, he spent a decade at

“GLASfunds is democratizing alternative investing for RIAs by making it efficient, streamlined, and scalable, which enables more powerful outcomes for their clients,” Haynes said in a statement. “I’m excited to join this innovative, forward-thinking team and to help further their mission of empowering financial advisors to pursue global private investing with ease and simplicity.”

Haynes to join GLASfunds as director of business development

The acquisition is slated to be finalized in early October. At that point, Haynes will join GLASfunds as director of business development. “GLASfunds clients will benefit from Haynes’ deep alternatives expertise, as well as from GLASfunds’ expanded presence in the Dallas, Texas area,” GLASfunds said.

Founded in 2009, GLASfunds is a tech-enabled platform that provides investors with secure and streamlined digital access to institutional-quality alternative investment opportunities and asset management oversight.

As part of the acquisition, GLASfunds will now service FFG’s clients with its full suite of private market investing and technology resources, enabling them “to deploy custom alternative investments with greater scale and efficiency.”

“We saw a real opportunity to amplify the great work Fund Formation Group was already doing for this particular group of RIAs, who were looking to access alternatives in a highly customized way,” Michael Maroon Jr., managing director at GLASfunds, said in a statement. “We’re thrilled about the chance to offer these firms our end-to-end private market solution, and we believe Tom will be a tremendous asset to the GLASfunds team.”

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