Steward Partners has secured $475 million in strategic capital from Ares Credit funds in a transaction that combines an expanded lending relationship with a non-controlling minority investment, providing the employee-owned wealth management firm with additional resources to support its next phase of growth.
The Stamford, Connecticut-based firm said Ares will join its existing institutional partners Cynosure Group and The Pritzker Organization, while Steward Partners leadership and partners will retain strategic direction and day-to-day decision-making authority.
Founded in 2013, Steward Partners has expanded from three advisors and less than $100 million in assets to nearly $50 billion in client assets as of December 2025, building its platform around advisor independence, partner-led ownership, and a model designed to align employees and clients through meaningful equity participation. The company said its ownership structure gives partners who build the business real stakes in long-term outcomes, supporting accountability and longer-horizon decision-making as the firm scales.
The firm positioned the financing as a way to reinforce its growth trajectory while preserving the core characteristics of its model. Steward Partners also highlighted recent external recognition, including a top ten placement on Barron’s 2025 Top 100 RIA Firms list and additional employer and advisor accolades cited in the announcement. Financial terms beyond the $475 million size were not disclosed, and the company described the Ares investment as non-controlling.
Support: Piper Sandler & Co. served as the exclusive financial advisor to Steward Partners. Ropes & Gray LLP and Latham & Watkins served as legal counsel to Steward Partners, and Cahill Gordon & Reindel LLP served as legal counsel to Ares.
KEY QUOTES:
“This is another defining milestone for Steward Partners. This transaction is a strong affirmation of everything our partners have built over more than a decade. Our team has created meaningful value through years of deep commitment to our mission, and we are thrilled to see the commitment of our partners rewarded.”
Jim Gold, Chief Executive Officer, Steward Partners
“Ares is pleased to provide flexible capital to support Steward Partners in its next phase of growth, and this transaction reflects our confidence in the company’s leadership and market position. We’re proud to work with a company that has deep alignment across employees, management and investors.”
Scott Rosen, Partner, Ares Credit
“Jim and Hy had a vision for creating an exceptional, employee-owned, advisory firm and, importantly, one that also distributed cash flow to the employee owners in both profit-sharing as well as Capital events. This is a terrific way to recognize and reward Partners for their contributions. Cynosure’s investment in 2019 was the first of what is now three investments that strengthen Steward and return money to employee owners. I know I speak for TPO as well when I say that the Company performance thus far has been amazing, but the best is yet to come and we are excited to remain invested for that future.”
Keith Taylor, Board Chairman, Steward Partners
“Steward has redefined what a partnership model can look like in wealth management, and they have sustained it at scale. We look forward to the next leg of growth.”
Jason Sussman, The Pritzker Organization
“We weren’t looking for capital alone, we were looking for alignment, vision, and partnership. Ares stood out because they respect independence, understand collaboration, and support our long-term vision. This structure preserves everything that makes Steward Partners special.”
“We’re extremely proud of what we’ve built, we’re grateful to the partners who got us here, and we’re beyond energized by the opportunities that lay ahead as we continue building a firm that is durable, independent, and truly differentiated in the wealth management space.”
Hy Saporta, President & Chief Operating Officer, Steward Partners
