The DI Wire’s Post

The over $15 billion in client assets across four M&A transactions that Wealth Solutions Report covers this week suggests that deal flow remains healthy in the second quarter of 2024. The Sanctuary Wealth deal is especially interesting because it shows that even fast growing and tech-savvy platforms such as tru Independence are open to the right partner under the proper circumstances. Meanwhile, amid all this M&A activity, there are firms such as Regent Peak Wealth Advisors, which has doubled its assets to over $600 million since breaking away from Merrill Lynch and becoming an independent RIA five years ago. What’s more, it’s done so largely organically and without M&A by continually enhancing its client service model though industry partnerships. Although some successful RIAs may never sell to larger players, would-be buyers should keep them on their radar. Since the best M&A deals occur between buyers and sellers that are more than the sum of their parts, it’s definitely worth identifying innovators early. It might even be a good idea to begin outreach early, too. You never know who’s open to a deal, until you ask. #wealthmanagement #financialadvisors #mergers

Carson Group makes another big move. 🚀 Carson Group is fully acquiring an Iowa-based independent Carson firm managing about $1 billion in client assets. http://spr.ly/6044v4Uuj #WealthManagement #MergersAndAcquisitions

Innovation in wealth management M&A keeps on coming. A few weeks ago Mariner acquired the M&A shop Woodbridge International. Then Cerity Partners announced its merger with the VC shop Touchdown Ventures. Now Merchant Investment Management is taking a minority stake in Republic Capital Group, and The AmeriFlex Group® created a platform that cuts out middlemen. Merchant and Republic are both prominent players in wealth management dealmaking in their own rights, so the investment has the potential to help accelerate the pace of RIA M&A. Meanwhile The AmeriFlex Group’s Advisor Transition Network may appeal to buyers and sellers that prefer to minimize the involvement of third-party players. Nobody can legitimately claim that RIA owners lack options for how to pursue M&A deals. If anything, so many choices abound that RIA owners may start to need as much guidance on the types of deals available to them as they need guidance on when to go to market and how to achieve good deal terms. Doing that extra work could unlock even more value for the industry.

# Only put off until tomorrow what you are willing to die having left undone ## Don't Miss Out on the Opportunity to Grow Your Health Savings Account with Shepherd Ave's IPO 💼🚀💰 Shepherd Ave Capital Acquisition Corporation has priced its initial public offering \(IPO\) at $10.00 per unit, raising a significant $75 million. This exciting development allows investors like you to participate in the growth potential of this healthcare-related venture. The trading of SPHA units will take place on Nasdaq, offering an avenue for potential returns on your investment. Embrace the chance to make a positive impact on your financial future while promoting the health and wellbeing of both yourself and your loved ones. Investing in opportunities like the Shepherd Ave IPO can be a smart strategy to grow your Health Savings Account \(HSA\) and secure a brighter future. Don't let the Fear of Missing Out hold you back from taking action now. Seize this moment to invest in the future of healthcare and ensure a solid foundation for your family's wellness. Start maximizing the potential of your HSA today! #hsa #investing #healthcare #health #family #wellness 🏥💸❤️

Insightful 💡 interview below from Private Equity International with PJT Park Hill team members providing their thoughts on a very active GP-led secondaries market in North America and Europe.  Takeaways include-- ✔Overall Secondaries Dealflow 📈 – Tracking $200 billion of upcoming supply, with 60% on the GP-led side. GP-leds continue to be attractive alternative realization event and way to generate DPI. North American and European markets are both strong, with activity levels high across the board. ✔Best Practices for GP-leds ➡thorough preparation ➡being experienced in dealing with LPACs ➡early dialogue with minority stakeholders and co-investors ➡effectively communicating rationale for transaction, why it makes sense and is better than status quo for all stakeholders ➡producing solid due diligence materials.  ✔With growing level of sophistication and sector expertise with buyers, important to share robust CIM and business plan. Third-party market studies and QofE reports are becoming more prevalent, and can differentiate a transaction. ✔GP Alignment is key –100% role for GPs is table stakes in this market. 75% of CVs had GP commitments in 5-10% range (higher than typical % in flagship funds). ✔LP elections – LPs have gained better understanding of how these deals work and how to evaluate their options, leading to higher roll rates. Part of this can also be attributed to the realized performance data for continuation funds that is starting to emerge from deals starting in 2020. ✔Pricing Trends – GP-leds are unique so difficult to generalize, but overall pricing building across the board. Also seeing greater variety in pricing levels at which deals complete, which reflect growing maturity of the market. Seeing that pricing can be decoupled from the reported reference date NAV.

Another buyer of scale: Lexington Partners unveiling a dedicated strategy to #privateequity GP-led single-asset continuation fund deals of scale, to be led by Christophe Browne, who was at the ground floor of the rise in CVs as they were just starting to evolve into the focus on 'treasure assets' and gain wider adoption. Two big players hitting the market that is widely considered to be undercapitalized: Lex (which has a long history of backing GP-leds and completed several large single asset deals in recent years) and Leonard Green & Partners (LGP). Will be interesting to see how competition heats up: https://lnkd.in/eSiRQQK7

Wealth advisory firm Carson Group, with $38 billion in assets under management, has fully acquired Carson Wealth Cedar Rapids, including their Las Vegas office. The partnership will expand the firm’s longstanding relationship with Carson and allow the offices, led by Russ Nieland, to focus on client service and identifying areas for business growth. The newly formed Carson Wealth location will manage approximately $1 billion in AUM.   Carson Wealth Carson Group Russ Nieland CFP®, AIF® Burt White Matt Friedrichsen Dan Tobin Daniel Applegarth Teri Shepherd #CarsonGroup #financialservices #wealthadviser #CarsonWealthCedarRapids #LasVegas #retirementplanning #wealthmanagement #fiduciary #acquisition #partnership #Iowa

Only put off until tomorrow what you are willing to die having left undone. 🚀 Shepherd Ave Capital Acquisition Corporation Raises $86.25 Million in IPO 🎉 💼 Shepherd Ave Capital Acquisition Corporation (NASDAQ: SPHAU) successfully completed its initial public offering, generating an impressive $86.25 million. The company sold 8,625,000 units at $10.00 each, including the underwriter's fees. This milestone allows the corporation's shares to begin trading on the Nasdaq exchange. 📈 Quiver AI Summary: The recent closure of Shepherd Ave Capital Acquisition Corporation's IPO has attracted significant attention in the investment community. With a strong offering and the successful capital raise, investors are taking notice of the potential this company holds. By acquiring units during the IPO, investors now have the opportunity to be part of Shepherd Ave Capital's growth story. 🏆 Don't Miss Out! Act Now for HSA Investing Success! 🌟 🔑 Take charge of your future by leveraging your Health Savings Account (HSA) to invest wisely and secure your financial health. Shepherd Ave Capital's impressive IPO highlights the potential for substantial returns within the healthcare sector. Don't miss out on this exciting opportunity to grow your HSA funds! ✅ Act now to avoid the Fear of Missing Out (FOMO) and unlock the potential benefits of HSA investing. Maximize your HSA contributions, explore investment options, and ensure a healthier financial future. Join the growing community of empowered investors utilizing their HSAs for wealth building. 💪 Invest in Your Health, Your Wealth, and Your Future! 💰 #hsa #investing #healthcare #health #family #wellness 🌱💼💪

NewRiver REIT plc to acquire Capital & Regional for £147m. NewRiver REIT plc, a real estate investment trust, agreed to acquire Capital & Regional, a UK-focused retail property REIT specialising in shopping centres, for £147m ($194). Shareholder of Capital & Regional would be entitled to receive and retain an interim dividend declared by Capital & Regional for the six months that ended June 30. Once Capital & Regional shareholders become NewRiver shareholders, they will be entitled to an interim dividend to be declared by NewRiver for the first six months ending September 30. Capital & Regional (led by Lawrence Hutchings and Stuart Wetherly) is advised by Deutsche Numis, Java Capital, Stifel Financial Corp., CMS and FTI Consulting. NewRiver REIT plc (led by Allan Lockhart and Will Hobman) is advised by Jefferies, Kinmont, Panmure Liberum, Shore Capital Markets, Eversheds Sutherland and FTI Consulting. https://lnkd.in/g_sKYKsW #MergersAcquisitionsDivestitures #REIT #RealEstate

Thank you to Investment News for allowing Procyon to voice our thoughts on such an important topic as taking on outside capital. Proceed with CAUTION!!!! #procyonproud #oneteamonedream #investmentnews