View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
November 16, 2021

KKR takes holding in wealth advisory firm Beacon Pointe

By Johney Amala

Investment firm KKR has obtained a stake in California-based wealth advisory firm Beacon Pointe as part of its investment in the firm.

KKR is making its investment in Beacon Pointe through its North American private equity strategy.

The deal, whose financial terms were not revealed, is expected to close before year-end, subject to customary closing conditions.

Founded in 2002, Beacon Pointe manages over $20bn in assets under management (AuM).

The firm has more than 110 financial advisors serving over 10,000 clients in 27 offices across the US.

As part of the transaction, Abry Partners will fully exit its investment in Beacon Pointe while the Beacon Pointe team will continue to own over 50% stake in the firm.

The investment from KKR will fuel Beacon Pointe’s plans for national expansion through new office openings and acquisitions.

The firm also plans to invest further in technology, resources, and employees’ professional growth. Additionally, the investment will also support the establishment of a Beacon Pointe charitable fund.

Beacon Pointe CEO Shannon Eusey said: “We are particularly excited about what this strategic partnership will mean for our team, company growth and, most importantly, the services we provide to our clients.

“With the support of KKR’s deep experience and resources, Beacon Pointe will have the opportunity to further invest in the business and continue to expand our footprint across the nation.”

KKR partner Chris Harrington said: “With its differentiated model, thoughtful approach to growth, and exceptional focus on client experience, Beacon Pointe is well-positioned to continue gaining share and scale within the growing and highly fragmented US RIA market.”

The investment comes as Beacon Pointe continues to expand its footprint across the US.

The firm has closed eight acquisitions this year and is expecting to close a number of deals before the year-end.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Private Banker International