Oppenheimer & Co., a unit of Oppenheimer Holdings Inc. of New York, said it has purchased the restructuring group from the privately held Fulcrum Strategy Partners.
Fulcrum, which is based in New York, was formed last year by Nicholas W. Tell Jr., a former portfolio manager for Trust Co. of the West's distressed funds, and Eben Paul Perison, a former managing director with Fortress Investment Group.
The professionals in the restructuring group have over 50 years of collective experience in restructuring middle-market companies, Oppenheimer said.
The purchase was announced Tuesday. The price was not disclosed.
Oppenheimer offers investment banking, securities, investment management, and wealth management services at 86 offices in 21 states.