Grant Thornton LLP Launches Client Growth Fund; Firmto Take Equity Investments Positions With...

Business Editors

NEW YORK/CHICAGO--(BUSINESS WIRE)--April 5, 2000

Grant Thornton LLP, the nation's sixth largest accounting and management consulting firm and the U.S. member firm of the $1.6 billion Grant Thornton International, today announced the formation of the Grant Thornton

This new fund will allow Grant Thornton to accept and manage limited equity investments in a select number of clients to whom it will not provide services that require independence.

"The Fund will allow us to take advantage of the dramatic value appreciation associated with many of the rapidly growing companies including those in the e-commerce, technology, communications and Internet sectors," said Grant Thornton Chief Executive Officer Dom Esposito. "Also, our clients will benefit from having an additional way in which to access our services."

The Grant Thornton Client Growth Fund is also designed to serve as a vehicle to help attract and retain professionals who are looking for great wealth appreciation potential opportunities. "Some other businesses -- including our competition -- are rapidly putting in place comparable personnel wealth enhancement and retention funds," said Esposito. "Soon these fee plans may become the competitive employment and service arrangement norm."

Grant Thornton is a 75-year-old professional services firm that helps the owners and senior management of middle market, entrepreneurial companies create, enhance and preserve wealth. Technology companies are a central part of the firm's strategy and continue to grow in its significance. Through Grant Thornton International, Grant Thornton serves clients through more than 600 offices in 100 countries.