Roark Buys Majority Stake in Ace Mortgage

Roark Capital Group, an Atlanta-based private equity firm, has announced the acquisition of a majority stake in Ace Mortgage Funding, an Indianapolis-based retail mortgage broker, for an undisclosed amount.Richard Hall and Robert Gregory will continue to head the management team at Ace, which offers primarily debt consolidation loans. Ace is Roark's second investment in a financial services firm, and the third acquisition for its $413 million fund raised in March, Roark reported. The companies can be found on the Web at http://www.roarkcapital.com and http://www.acerefi.com.