Wealth Enhancement Makes its 3rd Deal This Year, Goldman Bets on PE, and CW Advisors Hits its Second Double Deal in this Week's Edition...
Take a Lap Around the Industry
BlackRock Adds Bitcoin to Model Portfolios for the First Time (Citywire)
Cerity Partners Merges in $1.8B California RIA (Citywire)
Nearly $1T in Assets Change Hands via RIA, IBD Deals in 2024 (Citywire)
Celtics' $6B Sale Highlights Growing Role of Private Equity in Sports (NBC Boston)
Family Office Deal Tracker
Capricorn Investment Group was involved in a $98M additional funding round for HeartFlow, Inc., a CA-based innovator in AI-driven coronary artery disease (CAD) diagnostics
German medical learning platform for physicians and students, Amboss, has raised €240M in a Venture round with support from Kristiansen's family office, KIRKBI
With participation from The Capital Partnership, Supira Medical has received $120M in a Series E funding round to advance the clinical progress of its catheter-based ventricular heart pump.
In a Series G funding round, CA-based intelligent digital safety solutions firm, Aura, has raised $140M with participation from Rob Walton's family office, Madrone Capital Partners
LPL continues its M&A frenzy with its most recent acquisition of the $285B RIA, Commonwealth Financial Network (Citywire)
Boston-based private equity-backed CW Advisors, has acquired two RIAs based in New Jersey and Maine, $1.3B Delta Financial Group and Leathe & Associates (Citywire)
Marking its second acquisition of 2025, Waverly Advisors has brought in GGM Wealth Advisors, a $400M RIA based in Baltimore, Maryland (Citywire)
Continuing with its acquisition reputation, Wealth Enhancement has purchased Dallas-based RIA, XO Wealth Management, bringing in over $516M in AUM (Wealth Management)
Advisor Team Movement
Rockefeller Global Family Office expanded with the addition of two advisor teams overseeing $1.2B in assets from Merrill Lynch and UBS:
Greg Rhodes and his Dallas-based team, Rhodes White Bazan Wealth Partners, moved from Merrill with $1B in assets and $8M in annual revenue, supported by five staff members
Jason Ladner and Eric Franz of Ladner Franz Wealth Partners joined from UBS in Scottsdale, bringing $200M in assets and $2M in annual revenue
Backed by Viking Global Investors and IGM Financial Inc., Rockefeller continues its aggressive expansion, aiming for 200 teams by year-end, with at least nine teams added in 2024
The private equity firm, Clayton, Dubilier & Rice, has onboarded Walt Bettinger, former CEO of Charles Schwab as a senior advisor (Citywire)
Former Franklin Templeton senior VP, Ronice Barlow, has joined Raymond James as COO for its independent contractor division (Wealth Management)
Formerly known as Gries Financial, $1.3B GFP Private Wealth has promoted Carina Diamond to CEO replacing founder Sally Gries (Citywire)
Cambridge Investment Research has snagged Charles Schwab veteran, Sean Van Moorleghem, as executive vice president and chief technology officer (Wealth Enhancement)
Goldman Bets Big on Private Equity for the Ultra-Wealthy
Goldman Sachs is making a major push into private equity for wealthy individuals with the launch of its open-ended fund, G-PE. The move signals a broader trend among investment giants seeking to open private markets to a wider audience. Targeting individuals with at least $5 million in investable assets, the fund will provide access to a range of deals spanning buyouts, growth equity, secondary transactions, and co-investments. This expansion places Goldman in direct competition with private-market heavyweights like Blackstone, KKR, and Apollo, who are aggressively courting high-net-worth investors to fuel asset growth. As more companies delay public listings, firms like Goldman and BlackRock are betting that private investments will become a staple in individual portfolios. Goldman’s strategy also includes scaling its third-party wealth distribution platform to $8 billion this year and nearly tripling its asset management salesforce, reinforcing its ambition to dominate the alternative investment space.
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