Asset Management

OIC: Growth Fund I Closed Above Target At $370 Million

By Amit Chowdhry ● Jul 16, 2024

Orion Infrastructure Capital (OIC), a US middle-market infrastructure manager, announced it has successfully concluded the fundraising of its inaugural Infrastructure Growth Fund. This fund raised over $370 million in commitments, surpassing the initial target size of $350 million.

BlackRock’s Assets Hit $10.65 Trillion

By Amit Chowdhry ● Jul 16, 2024

The assets managed by BlackRock has hit a record $10.65 trillion as of the second quarter due to an increase in client asset values. Investors also put in a significant amount of funds into the company’s exchange-traded funds (ETFs).

EP Wealth Advisors Acquiring $700 Million (AUM) Sloan Investment Management

By Amit Chowdhry ● Jul 16, 2024

EP Wealth Advisors - a leading independent registered investment adviser (RIA) with an expanding national presence and client base - announced the acquisition of Dallas-based Sloan Investment Management. This partnership adds about $700 million in assets under management (AUM), bringing EP Wealth’s total AUM in the Dallas region to over $1 billion, and $25.2 billion nationwide.

NewEdge Advisors Brings In $580 Million Dallas-Based Team Fortis Wealth

By Amit Chowdhry ● Jul 12, 2024

NewEdge Advisors (a leading New Orleans-based RIA) that is supporting successful independent financial advisors nationwide announced that Dallas-based team Fortis Wealth Advisors has joined the firm from J.P. Morgan Securities, where they were overseeing approximately $580 million in client assets.

Perigon Wealth Management Acquires $150 Million Firm Creative Financial Planning

By Amit Chowdhry ● Jul 12, 2024

Perigon Wealth Management - a rapidly growing independent wealth management firm with offices across the country and about $7.75 billion as of March 31, 2024 - in client assets, today announced the acquisition of Creative Financial Planning Inc. of New York, a firm with approximately $150 million in assets under management (AUM). Terms were not disclosed.

Star Mountain Capital Names Charles Millard As Senior Advisor

By Amit Chowdhry ● Jul 10, 2024

Star Mountain Capital, a specialized investment manager with over $4 billion in assets under management focused on generating defensive and premium yield and total returns from the less efficient and resources-intensive market of U.S. private small and medium-sized businesses, announced that Charles Millard has joined as Senior Advisor.

Americana Partners Expands Into LatAm Market

By Amit Chowdhry ● Jul 10, 2024

Americana Partners, an independent registered investment advisor (RIA) with $7+ billion in assets under management, announced its expansion into the Latin American market with the launch of Americana Partners International, dedicated to providing family office services to ultra-high net-worth individuals in the region.

First Foundation: $228 Million Equity Investment Closed

By Amit Chowdhry ● Jul 9, 2024

First Foundation announced today the closing of its individual investments aggregating to $228 million in the company from affiliates of Fortress Investment Group, Canyon Partners, Strategic Value Bank Partners, North Reef Capital, and other investors.

Raymond James Brings In $1.3 Billion Las Vegas-Based Advisor Team

By Amit Chowdhry ● Jul 6, 2024

Rick Sanchez, West Coast regional director for Raymond James & Associates (RJA), announced that the firm has brought in a team of seven financial advisors to the firm in Las Vegas. This team includes financial advisors Nick Takahashi, CRPC, James Zapotocky, Joshua Yocam, Luka Vasiljevic, Michael Ortega, Stephen Ellingsen and Sean Tsaconas, and senior client service associate Yalda Momeni.

Ameriprise Brings In $100+ Million Financial Advisor Team

By Amit Chowdhry ● Jul 3, 2024

Financial advisor Michael Cruz has recently joined the branch channel of Ameriprise Financial from Wells Fargo Clearing Services with $100 million in assets in Temecula, California.

Stifel: Jeff Markham Named As Managing Director

By Amit Chowdhry ● Jul 3, 2024

Stifel Financial announced that veteran wealth management executive Jeff Markham has joined the firm’s Stifel, Nicolaus & Company broker-dealer subsidiary as Managing Director.

Raymond James Absorbs $250 Million Central Florida-Based Veteran Advisor Team

By Amit Chowdhry ● Jul 2, 2024

Raymond James announced it welcomed financial advisor Anthony Losh, CFP, CRPCTM, CRPSTM, to the firm's employee advisor channel Raymond James & Associates (RJA) in Stuart, Florida. This was revealed by Tom Walrond, Eastern division director for RJA.

LPL Brings In $160 Million Virginia-Based Advisory Team

By Amit Chowdhry ● Jul 2, 2024

LPL Financial announced that financial advisor W. Scott Hengerer, CMFC, CRPC, has joined LPL Financial’s broker-dealer, RIA and custodial platforms to launch a new independent practice called James River Private Wealth. And he reported serving approximately $160 million in advisory, brokerage and retirement plan assets and joins LPL from Ameriprise.

AssetMark Buying $12 Billion In Assets From Morningstar Wealth

By Amit Chowdhry ● Jul 2, 2024

Wealth management platform AssetMark (a wholly owned subsidiary of AssetMark Financial Holdings and a Registered Investment Adviser) announced a strategic alliance with Morningstar Wealth (a division of independent investing insights firm Morningstar).

Baldwin Brothers Buys Assets Of KLR Investment Advisors

By Amit Chowdhry ● Jul 2, 2024

Baldwin Brothers, a fifty-year legacy wealth and investment management firm based in southeastern Massachusetts with just under $2.3 billion of assets under management, announced the acquisition of the assets of KLR Investment Advisors, an elite wealth management firm based out of Providence, Rhode Island.

PPM America: Thirteenth CLO Closed At $401 Million

By Amit Chowdhry ● Jun 30, 2024

PPM America announced the closing of PPM CLO 7 Ltd. (CLO 7). And CLO 7 has 16 unique investors, seven of which are new to PPM, and a deal size of $401 million. It is PPM’s seventh CLO closed since the firm re-entered the CLO market in 2018 and the thirteenth CLO closed in the firm’s history.

H.I.G. Capital: $1.3 Billion Raised For Infrastructure Fund

By Amit Chowdhry ● Jun 28, 2024

H.I.G. Capital, a global alternative asset management firm with $64 billion of capital under management, announced the closing of H.I.G. Infrastructure Partners. This fund closed with aggregate capital commitments of approximately $1.3 billion.

HPS Investment Partners: Over $21 Billion Raised For Specialty Loan Fund VI

By Amit Chowdhry ● Jun 26, 2024

HPS Investment Partners, a leading global credit investment firm with about $114 billion of assets under management (AUM), announced the final close of Specialty Loan Fund VI (SLF VI), with $21.1 billion in investable capital.

Allworth Financial Acquires $220 Million Del Monte Group

By Amit Chowdhry ● Jun 24, 2024

Allworth Financial announced it has acquired Northern California-based Del Monte Group - which brings the firm to 18 California locations and 42 offices nationwide. The financial terms of the agreement were not disclosed.

Wealth Enhancement Group Acquires $219 Million RIA Atlas Fiduciary Financial

By Amit Chowdhry ● Jun 24, 2024

Wealth Enhancement Group, a national independent wealth management firm with $85 billion in client assets, announced it acquired Atlas Fiduciary Financial, an independent RIA with two offices in Sarasota, Florida and Oakland, New Jersey.

NewEdge Advisors Brings In $540 Million RIA Team Stonebridge Financial Partners Of Michigan

By Amit Chowdhry ● Jun 24, 2024

NewEdge Advisors, a leading New Orleans-based RIA supporting successful independent financial advisors nationwide, announced that Stonebridge Financial Partners, a Michigan-based team, has joined the firm from Carson Wealth where they were overseeing approximately $540 million in client assets.

LPL Financial Adds $250 Million Russell Wealth Partners Team

By Amit Chowdhry ● Jun 24, 2024

LPL Financial announced that financial advisor Tom Russell, CFP, and his sons Brian Russell and Charles Russell have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Russell Wealth Partners. And the family team reported serving approximately $250 million in advisory, brokerage and retirement plan assets and joins LPL from Merrill Lynch. They will operate out of the Linsco suite at LPL’s San Diego campus.