Asset Management

Stormfield Capital: $1.25 Billion In Loan Originations Achieved

By Amit Chowdhry ● May 8, 2024

Stormfield Capital, an institutional private credit manager with expertise in lower middle-market commercial real estate bridge lending, announced that it funded more than $1.25 billion in proprietary loan originations.

HighVista Strategies: Private Equity Fund X Closed At $675 Million

By Amit Chowdhry ● May 8, 2024

HighVista Strategies, an alternative asset manager pursuing specialized investments in public and private markets, announced the final closing of HighVista Private Equity X, LP. This fund closed on $675 million of commitments, including a sizeable GP commitment and other affiliated capital. In addition to welcoming several new investors into the program, HighVista Private Equity X had received strong support from a broad group of longstanding investors, including pension funds, endowments, foundations, and family offices.

Private Advisor Group Brings In $90 Million Advisor

By Amit Chowdhry ● May 8, 2024

Private Advisor Group, one of the largest/fastest-growing independent wealth management firms, has welcomed Ethan Campbell (Wealth Advisor of Stones River Wealth Management) to its community of advisors. Based in Woodbury, Tennesse, team members include Collin Reed (Wealth Advisor) and Alana Hale (Office Administrator). The firm takes a holistic approach to financial planning and currently oversees a reported $90 million in client assets under management.

LPL Financial Brings In $200 Million Journey Financial Team

By Amit Chowdhry ● May 8, 2024

LPL Financial announced that financial advisors Timothy Heisterkamp, CFP, and Max Neese, CFP have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported serving approximately $200 million in advisory, brokerage and retirement plan assets, and join LPL from Cambridge.

BTG Pactual Raises Over $1 Billion For Strategic Capital Investment Strategy

By Amit Chowdhry ● May 8, 2024

BTG Pactual Asset Management, a global investment platform with US$177 billion in AUM/AUA as of Q4 of 2023, announced that it finalized fundraising for its BTG Pactual Strategic Capital (Strat Cap) investment strategy. This strategy closed on over US$1 billion in total capital commitments, including US$395 million to a Fund LP and over US$600 million in co-investments.

BlackRock Invests In Willow Network To Help Financial Advisors Serve New Investors

By Amit Chowdhry ● May 8, 2024

BlackRock announced it has made a minority investment in Willow Network, a startup providing services to help financial advisors better serve a growing population of new investors. Willow will use the funding to launch two new certificate programs to help advisors better respond to the unique financial and planning challenges this next generation of clients faces.

BIP Wealth Acquiring The Money Advisor Group, Bringing AUM To $3.3+ Billion

By Amit Chowdhry ● May 8, 2024

The Money Advisor Group, LLC (TMAG), a Registered Investment Advisor (RIA) specializing in investment management and retirement planning, announced it had signed a deal to be acquired by Atlanta-based RIA, BIP Wealth, through its new BIP Alliance initiative. BIP Wealth offers investment management and sophisticated planning solutions for high-net-worth individuals and families, institutional clients, and corporate retirement plans.

LPL Financial Brings In $240 Million Guardian Partners Wealth Management Team

By Amit Chowdhry ● May 8, 2024

LPL Financial announced that financial advisors Mitchell “Mitch” and Wesley “Wes” McCann have joined its broker-dealer, RIA, and custodial platforms. They reported serving approximately $240 million in advisory, brokerage, and retirement plan assets and joined LPL from Ameriprise.

Lincoln Financial Completes Sale Of Wealth Management Business To Osaic In $650 Million Deal

By Amit Chowdhry ● May 8, 2024

Lincoln Financial Group announced that it has completed the sale of its wealth management business, including all ownership interests in the Lincoln subsidiary entities comprising that business, to Osaic - one of the nation’s largest providers of wealth management solutions. And the sale also provides Lincoln with about $650 million of capital benefit - which the company will use primarily to increase its risk-based capital ratio. Lincoln also plans on using part of the capital benefit to reduce its leverage ratio.

CVC Credit: Cordatus XXXI Closed At Over €440 Million

By Amit Chowdhry ● May 7, 2024

CVC Credit, CVC Capital Partners' €40 billion global credit management business, announced it has successfully closed Cordatus XXXI, its fourth new Collateralized Loan Obligation (CLO) of the year, worth over €440 million.

Investec Names Michael Miller As Head Of Private Credit Management In Direct Lending Expansion

By Amit Chowdhry ● May 7, 2024

Investec Bank plc announced the expansion of its Direct Lending platform by hiring Michael Miller to lead and grow its newly established Private Credit Management (PCM) team. Investec Direct Lending is a European private credit manager offering institutional investors, family offices, and UHNW Individuals exclusive access to higher growth lower mid-market borrowers. The creation of the PCM team also marks the next stage in the evolution of Investec’s proposition to private debt borrowers.

FusionIQ Launches FIQ Freedom, Enabling Breakaway Advisors To Transition To Independence

By Amit Chowdhry ● May 7, 2024

FusionIQ, a leader in delivering cloud-based wealth management solutions with an all-in-one digital platform for financial advisors and institutions, announced the launch of FIQ Freedom, the latest addition to its suite of innovative products on the FusionIQ One platform.

MAI Capital Management Brings In $312 Million Harbor Wealth Management Team

By Amit Chowdhry ● May 7, 2024

MAI Capital Management, a registered investment adviser (RIA) specializing in comprehensive investment and financial planning for high-net-worth individuals and families, announced the acquisition of Harbor Wealth Management. The terms of the transaction were not disclosed.

Brookfield Buying 51% Stake In Castlelake’s Fee-Related Earnings Business

By Amit Chowdhry ● May 6, 2024

Brookfield Asset Management and Castlelake L.P., an alternatives asset manager specializing in asset-based private credit, including aviation and specialty finance, announced that they have entered into an agreement in which Brookfield will buy a 51% stake in Castlelake’s fee-related earnings business. Brookfield will invest about $1.5 billion, including capital to be invested in Castlelake’s investment strategies by Brookfield Reinsurance. This partnership will enable Castlelake and Brookfield to collaborate and expand Castlelake’s differentiated asset-based investment business.

Colbeck Capital: Jared Talisman Joins As Managing Director And Head Of Originations

By Amit Chowdhry ● May 6, 2024

Colbeck Capital Management, a middle-market private credit manager focused on strategic lending, announced today that Jared Talisman has joined the firm as a Managing Director and Head of Originations. Talisman most recently served as a Managing Director at Principal Alternative Credit, where he led and managed the sourcing, structuring, and due diligence of non-sponsored private credit investments.

Securitize: Real World Asset Tokenization Company Raises $47 Million

By Amit Chowdhry ● May 6, 2024

Securitize, a leader in tokenizing real-world assets, announced the successful completion of a $47 million funding round led by BlackRock. This strategic investment also includes funding from Hamilton Lane, ParaFi Capital, and Tradeweb Markets. In connection with the financing, Joseph Chalom, BlackRock's Global Head of Strategic Ecosystem Partnerships, has been appointed to Securitize's Board of Directors.

Avantax Buys Integrated Tax & Wealth Strategies’ $760 Million Wealth Management Operations

By Amit Chowdhry ● May 5, 2024

Avantax, a leader in tax-focused financial planning and wealth management, announced it has acquired the wealth management business of Integrated Tax & Wealth Strategies. This independent wealth management firm is one of the largest businesses within the Avantax Community, with $760 million in total client assets as of December 31, 2023.

Golub Capital: $2 Billion Sixth Credit Opportunities Fund Closed

By Amit Chowdhry ● May 3, 2024

Golub Capital announced the final closing of its sixth credit opportunities fund, GEMS Fund 6, L.P. (Fund 6), with $2 billion of investable capital. Fund 6 is Golub Capital’s largest Credit Opportunities fund to date. The commitments were over the target fundraise and came from a diverse range of global institutional and private wealth investors across North America, Europe, the Middle East, and Asia.

LPL Brings In $860 Million Strategic Wealth Partners Team

By Amit Chowdhry ● May 3, 2024

LPL Financial announced that the advisors at Strategic Wealth Partners have joined LPL Financial’s broker-dealer, RIA and custodial platforms. This team reported serving about $860 million in advisory, brokerage and retirement plan assets and joins LPL from Lincoln Financial.

Deerpath Capital: 10th Collateralized Loan Obligation Closed At $452.61 Million

By Amit Chowdhry ● May 2, 2024

Deerpath Capital Management, LP announced the closing of Deerpath CLO 2024-1, a $452.61 million collateralized loan obligation (CLO). This is Deerpath's first new issuance CLO this year.

Wealth Enhancement Group Adds $502 Million Lynch Retirement Investment Team

By Amit Chowdhry ● May 2, 2024

Wealth Enhancement Group, a national independent wealth management firm with over $81.9 billion in client assets, announced that it has joined forces with Lynch Retirement Investment Group, a hybrid RIA located in Columbia, Maryland. The team of three financial advisors and three support team members, led by senior advisor John Lynch, manages over $502 million in client assets.

Credent Wealth Management Brings In Two New Advisor Firms

By Amit Chowdhry ● May 2, 2024

Auburn, Indiana-based Credent Wealth Management, a $2.5 billion fee-only RIA firm, announced William “Bill” Hoover of Euclid Advisory and James “Jim” Ward of Ward Wealth Management Services as the latest partner advisors to join Credent.

Mercer: $3.9 Billion In Commitments Closed For PIP VII

By Amit Chowdhry ● May 2, 2024

Mercer, a global leader in redefining retirement and investment outcomes (and a business of Marsh McLennan), announced the successful fundraising for Mercer Private Investment Partners VII (PIP VII). The fund secured limited partner (LP) capital commitments totaling over $3.9 billion.

Raymond James: $125 Million Financial Advisor Sloane Fox Joins

By Amit Chowdhry ● May 2, 2024

Raymond James’ Southeast division director for Raymond James Financial Services (RJFS) Todd Gartrell announced financial advisor Sloane Fox has joined Raymond James Financial Services (RJFS) – which is the firm’s independent advisor channel.

Huntington National Bank: Melissa Holding Named As Director Of Wealth Management

By Amit Chowdhry ● May 2, 2024

The Huntington National Bank announced the appointment of Melissa Holding as Director of Wealth Management. Holding will oversee the Wealth Management business, including private banking, wealth management, and legacy planning via investment and portfolio management, fiduciary administration and trust services, institutional custody services, and full-service retail brokerage investments. And Holding will focus on growing Huntington's wealth segment momentum and report to Consumer & Regional Banking President Brant Standridge.

Palistar Capital: Brittenay Banh Named Principal, Head of Investor Relations & Capital Formation

By Amit Chowdhry ● May 2, 2024

Palistar Capital LP, an alternative asset manager focused on mission-critical communications and digital infrastructure, announced the appointment of Brittenay Banh as Principal, Head of Investor Relations & Capital Formation.

LPL: $190 Million Financial Advisor Justin Souma Returns

By Amit Chowdhry ● May 2, 2024

LPL Financial announced that financial advisor Justin Souma, CFP, AAMS, returned to LPL Financial’s broker-dealer, RIA and custodial platforms. He reported serving about $190 million in advisory, brokerage, and retirement plan assets and joins LPL from Benjamin F. Edwards & Co.

Focus Financial Partners: Michael Nathanson Named As CEO

By Amit Chowdhry ● May 2, 2024

Focus Financial Partners, a leading partnership of fiduciary wealth management and related financial services firms, announced that Michael Nathanson (President of Focus) has been appointed the company’s Chief Executive Officer (CEO), effective immediately. Dan Glaser, Chairman of Focus’ Board of Directors and Operating Partner at Focus’ majority investment partner, Clayton, Dubilier & Rice (CD&R) - who had been serving as Interim CEO - has been named Executive Chairman.

LPL Brings In $415 Million Momentum Wealth Partners Team

By Amit Chowdhry ● May 1, 2024

LPL Financial announced that financial advisors Chris Mukoda, Brad Travis, Jr., CFP, and David Crouse joined LPL Financial’s broker-dealer, RIA, and custodial platforms by aligning with Momentum Wealth Partners, an existing firm supporting LPL-affiliated advisors. They reported serving about $415 million in advisory, brokerage, and retirement plan assets and joined LPL from PNC Investments.

Houlihan Lokey: Senior Hires Brought In For Technology Group

By Amit Chowdhry ● May 1, 2024

Global investment bank Houlihan Lokey announced that Ryan Lund has joined the firm’s global Technology Group as a Managing Director. Lund is based in Miami and has been appointed Co-Head of U.S. Technology alongside John Lambros and Jason Hill and Global Co-Head of Software with Sascha Pfeiffer.

Asset Management

Stormfield Capital: $1.25 Billion In Loan Originations Achieved

HighVista Strategies: Private Equity Fund X Closed At $675 Million

Private Advisor Group Brings In $90 Million Advisor

LPL Financial Brings In $200 Million Journey Financial Team

BTG Pactual Raises Over $1 Billion For Strategic Capital Investment Strategy

BlackRock Invests In Willow Network To Help Financial Advisors Serve New Investors

BIP Wealth Acquiring The Money Advisor Group, Bringing AUM To $3.3+ Billion

LPL Financial Brings In $240 Million Guardian Partners Wealth Management Team

Lincoln Financial Completes Sale Of Wealth Management Business To Osaic In $650 Million Deal

CVC Credit: Cordatus XXXI Closed At Over €440 Million

Investec Names Michael Miller As Head Of Private Credit Management In Direct Lending Expansion

FusionIQ Launches FIQ Freedom, Enabling Breakaway Advisors To Transition To Independence

MAI Capital Management Brings In $312 Million Harbor Wealth Management Team

Brookfield Buying 51% Stake In Castlelake’s Fee-Related Earnings Business

Colbeck Capital: Jared Talisman Joins As Managing Director And Head Of Originations

Securitize: Real World Asset Tokenization Company Raises $47 Million

Avantax Buys Integrated Tax & Wealth Strategies’ $760 Million Wealth Management Operations

Golub Capital: $2 Billion Sixth Credit Opportunities Fund Closed

LPL Brings In $860 Million Strategic Wealth Partners Team

Deerpath Capital: 10th Collateralized Loan Obligation Closed At $452.61 Million

Wealth Enhancement Group Adds $502 Million Lynch Retirement Investment Team

Credent Wealth Management Brings In Two New Advisor Firms

Mercer: $3.9 Billion In Commitments Closed For PIP VII

Raymond James: $125 Million Financial Advisor Sloane Fox Joins

Huntington National Bank: Melissa Holding Named As Director Of Wealth Management

Palistar Capital: Brittenay Banh Named Principal, Head of Investor Relations & Capital Formation

​​LPL: $190 Million Financial Advisor Justin Souma Returns

Focus Financial Partners: Michael Nathanson Named As CEO

LPL Brings In $415 Million Momentum Wealth Partners Team

Houlihan Lokey: Senior Hires Brought In For Technology Group

LPL: $190 Million Financial Advisor Justin Souma Returns