EP Wealth Advisors, a California wealth manager with roughly $32.6bn in assets under management, is pursuing a capital raise, officials for the company notified Citywire.
Ryan Parker (pictured), EP Wealth’s chief executive, stated the new investor would become a co-investor alongside EP Wealth’s existing private equity sponsor, Berkshire Partners. EP Wealth has been backed by serial RIA minority investor Wealth Partners Capital Group (WPCG) since 2017 and Berkshire Partners since 2020.
‘As we relocate into the next chapter of EP Wealth’s story, we do so from a position of strength, guided by 26 years of commitment to our clients and the leadership of our founders, advisors, and management team,’ Parker notified Citywire. ‘Adding a capital partner alongside Berkshire isn’t a sale of our business or a shift in our philosophy — it’s a strategic decision that enables us to further invest in the power of our strategy and accelerate our growth at a time when we are poised to do so.’
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