Rosemont Announces Minority Investment in Northside Capital Management
2024年5月3日 - 2:00AM
ビジネスワイヤ(英語)
Investment Supports Independence and
Succession
Rosemont, a private investor in employee-owned asset and wealth
management firms, today announced a minority investment in
Northside Capital Management, LLC, an outsourced investment manager
for ultra-high net worth families. Headquartered in Hood River,
Oregon, Northside had in excess of $5.2 billion in assets under
management and advisement at the end of 2023.
Rosemont’s investment in Northside is a recapitalization
intended to support the company’s stability and commitment to
independence. As a minority investor, Rosemont will provide
guidance on all aspects of the business, as well as enhanced
governance.
“We carefully considered our choice of partner before selecting
Rosemont,” said Jim DeWolfe, Managing Member and President of
Northside. “In the end, we valued Rosemont’s industry expertise,
its experience collaborating with firms like ours, and its
permanent capital and minority orientation. Having Rosemont’s
support ensures that our clients will continue to receive the same
quality of advice and level of service indefinitely into the
future.”
“Northside provides a distinctive offering to its client
families,” said Brad Mook, Managing Director at Rosemont. “We
appreciate Northside’s institutional-caliber investment and
portfolio management capabilities along with the customization and
tailored services their clients receive. We see increasing demand
for these types of services from independent, conflict-free firms,
and we are pleased to partner with Jim and his colleagues to
sustain and enhance their efforts.”
This is the fourth permanent capital investment by Rosemont,
which made twenty-six similar investments through private equity
funds before converting to permanent capital investing six years
ago.
Cozen O’Connor served as legal representative to Rosemont and
Winston & Strawn served as legal representative to Northside.
Terms of the transaction were not disclosed.
About Rosemont
Rosemont is a specialist investor exclusively focused on a
select number of partnerships with high-quality, employee-owned
asset and wealth management companies. Rosemont acquires permanent
minority equity positions in support of management buyouts,
recapitalizations, ownership transitions, and selected start-ups.
In addition to its experience providing capital and employee-driven
ownership solutions, Rosemont leverages its deep network and
knowledge of the investment management industry developed through
more than 35 years of advising and investing in asset and wealth
management businesses. For more information visit
rosemontinv.com.
About Northside Capital Management
Northside Capital Management, LLC serves as an outsourced
investment manager for family offices, high-net-worth individuals,
endowments, foundations, and tax-exempt entities. Founded in 1996,
Northside is headquartered in Hood River, Oregon, and has offices
in Ketchum, Idaho, and San Mateo, California. For more information
visit www.northsidecap.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502628364/en/
Alexa Bartusiak Public Relations Manager Wealth Matters
Consulting (412) 519-7265 ajb@wealthmattersconsulting.com