According to a press release, the capital from Charlesbank and Rise’s management combined will go towards the acquisition of significant minority stakes in select RIA firms. Rise will focus on high-growth RIAs with AUM between $1bn to more than $5bn.
Following investment, Rise intends to provide these firms with growth capital, operational guidance and acquisition expertise to fuel their development into “the next generation of national wealth management platforms”.
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Source: Private Equity Wire
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