AAM Not Planning Radical Changes

CHICAGO—Big changes are afoot at the Alter Group, which, as reported in GlobeSt.com, plans to move away from funding projects with family money and transform itself into a diversified investment firm. And as part of this new strategy, its suburban Chicago-based affiliate Alter Asset Management will begin operating independently, and pursue more third-party management opportunities.

But Samuel F. Gould, AAM’s president, tells GlobeSt.com that “to a certain degree, things really are not going to change that radically.” AAM was founded in 1971 as an in-house division of Alter, and “we will continue to manage the Alter portfolio just as we’ve done for years.” Furthermore, Alter clients have been bringing AAM outside management jobs for a long time, so boosting that side of the organization won’t cause disruption either.