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November 16, 2021

KKR takes holding in wealth advisory firm Beacon Pointe

By Verdict Staff

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

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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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.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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