Pennington Partners, a SEC-registered private multi-family office that serves the complex and comprehensive financial needs of ultra-high net worth families, has commenced operations in the US.
The company, which specialises in multi-generational wealth management, offers services including family governance, philanthropic consulting, investment management, and comprehensive family office services.
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The new firm is led by Brian Gaister and Rodd Macklin. They are supported by senior portfolio manager Alex Zlotnikov, tax partner Matthew Bart, and head of client service Megan Bleil.
Gaister most recently co-headed a group at Merrill Lynch that managed $600m in assets and liabilities. Macklin served as a CFO of two private equity firms with aggregate capital commitments over $2bn.
"There has been a significant proliferation of fragmented family offices in the $25mm-$1bb asset range that have been unable to cost-effectively leverage scale, afford a best-in-class team, co-invest with other successful families, and objectively take advantage of the highest quality idea flow and strategy," Macklin said.
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