The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Rise
Growth Partners has taken a “strategic minority stake” in
Bleakley
Financial Group, a firm services almost $10 billion in
advisory assets as of June 30 this year.
Earlier this year, Rise said it had received a $250 million
investment commitment from Charlesbank Capital Partners, the
private capital firm, to support its move to invest in RIAs.
“For a long time, we have considered bringing on a partner to
accelerate our evolution into a nationally recognized firm. In
Rise, we found a strategic partner with not only capital but also
the expertise to expand a national firm that attracts top-tier
growth-oriented advisors,” Andy Schwartz, principal at Bleakley,
said.
Rise specializes in taking a non-controlling minority stake in
minority firms.
Based in Boston and New York, Charlesbank Capital Partners is a
middle-market private investment firm with more than $18 billion
of capital raised since inception.
Recently, Family Wealth Report’s US correspondent
Charles Paikert
analyzed the merger and acquisition pattern in the North
American wealth sector.
