M and A
Deals Of The Day: The Latest In Wealth Management M&A – Emigrant Partners, Novare
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The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Emigrant Partners, Novare Capital Management
Emigrant
Partners, which specializes in acquiring minority stakes in
wealth and asset management firms, has taken such a position in
Novare Capital Management.
Novare, which was founded by Bill Baynard and Don Olmstead in 1999, manages $1.8 billion in assets and is headquartered in Charlotte, North Carolina.
The partnership will provide the RIA with capital and speed up its growth.
Colchester Partners served as Novare’s exclusive financial advisor and Moore & Van Allen served as its legal counsel.
Emigrant Partners is partnered with 20 firms overseeing $113 billion in combined AuM/AuA. EP is a subsidiary of Emigrant Bank, which is owned and operated by the Milstein Companies.
