Following an announcement from Rosemont, PE Hub reported that the firm had purchased a minority stake in Veris Wealth Partners, a woman-led impact Wealth Management firm with $2 billion in assets.
The publication reported that, “The recapitalization is designed to support the company’s internal equity transition to next-generation leaders and to ensure its independence for many years to come.”
The publication also provided insight on the partnership from Rosemont Managing Director Brad Mook.
“We are extremely pleased to partner with Veris,” Mook said. “Veris has a long legacy as a leader in impact investing since 2007 and is distinguished by its authenticity and strong partnership culture. It’s a compelling choice for wealth owners looking for high-caliber investment management and private wealth planning and the ability to use their resources for positive change. We look forward to working with the Veris team long into the future.”
This is the second permanent capital investment by Rosemont, following 27 private equity investments over the past 21 years.