October 19, 2021
Starting an investment management firm today is a daunting task. Thoughtful and aligned growth capital is hard to find. Competition far and wide, the demand for investment excellence, the necessary business acumen, and having enough smart capital behind you are all key factors to success or failure. Rosemont Investment Group CEO Chas Burkhart recently shared his expertise on these issues virtually at the National Association of Securities Professionals 32nd Annual Financial Services Conference.
For this conference, more than 600 professionals from various sectors in the investment and financial services industry came together to learn about the latest trends and solutions to pressing issues facing their firms from leading experts, such as Burkhart.
Burkhart’s specific panel—“Access to Capital: Is your firm in Position?”—debated the criteria and challenges around start-up and growth capital. He specifically offered insights on what it takes to start a firm in 2021, why combinations with other firms are often better than pure start-ups, and how to think about capital partners, business decisions, organizational structure, M&A and more.
To learn more about NASP, click here. To learn more about Rosemont, please visit our website, www.rosemontinv.com, or reach out to us directly
October 11, 2021
Pensions & Investments recently spoke with Rosemont to discuss the sale of its minority stake in Clearstead, an RIA firm with approximately $28 billion in assets under advisement.
Rosemont, which owned 32% of Clearstead at the time of the announcement, made its initial investment in Clearstead in 2017 as part of its Rosemont Partners III fund.
Rosemont Managing Director Brad Mook explained to the publication that Rosemont’s investment in Clearstead was part of a recapitalization effort to provide liquidity to the firm’s founder, broaden the firm’s equity ownership and provide the firm with some support and backing going forward. “The agreement to sell the stake was necessary because the Rosemont fund’s investment period has expired,” Mook told Pensions & Investments.
Click here to read the entire Pensions & Investments article.
October 11, 2021
Citywire recently sat down with Rosemont Investment Partners to discuss the sale of its minority equity ownership of Clearstead.
As a Cleveland-based RIA overseeing $28 billion in assets, Clearstead “manages money for high-net-worth individuals and offers investment consulting and outsourced chief investment officer (OCIO) services for institutions such as pension plans, 401(k) plans, endowments and nonprofit organizations,” the publication reports. Rosemont purchased its minority stake in the RIA in March 2017. As of July, the private equity firm held 32% interest in Clearstead.
“Our private equity fund is out of its investment period,” says Rosemont Managing Director Brad Mook. “The timing worked out that they could find a partner to provide them some growth capital. It allows us to exit, albeit sooner than we wanted, because we’ve really enjoyed the partnership and, frankly, in a permanent context would have partnered with them indefinitely.”
Click here to read the entire Pensions & Investments article.
October 11, 2021
Following an announcement from Rosemont, Yahoo Finance reported that the firm has entered into an agreement to sell Rosemont Partners III, LP’s minority equity interest in Clearstead, executing the final stage of a recapitalization investment.
The publication reported that, “Rosemont’s 2017 investment in Clearstead was instrumental in accelerating an equity succession plan, rebranding, and profitable growth.”
Through this four-year investment, Clearstead grew its AUA by more than $10 billion, broadened employee ownership, executed three acquisitions and achieved multiple key hires. Through Rosemont’s investment, the firm was also able to expand and upgrade its service offering, investment capabilities and operating infrastructure.
“Our relationship with Rosemont was much more than a financial agreement,” said Clearstead CEO Dave Fulton. “Their partnership, industry relationships, networks and decades of industry experience have been invaluable to us. With their support and guidance, our firm is now positioned for the next decade of growth and success.”
Click here to read the entire Yahoo Finance announcement.
October 11, 2021
MarketWatch recently reported that Rosemont has entered a definitive agreement, pending regulatory approval, to sell its minority equity interest in Clearstead, an institutional and private client advisory firm with approximately $28 billion in assets under management and advisory as of June 30, 2021.
Following the firm’s announcement, MarketWatch wrote, “Clearstead has realized more than $10 billion in AUA growth and multiple accretive hires, which has helped it build a first-class reputation for comprehensive wealth management for its clients.”
The publication also provided insight from Rosemont Managing Director Brad Mook.
“Clearstead has developed into one of the premier investment advisory and wealth management firms in the country,” Mook commented. “It is well-structured and positioned to continue to grow and serve its clients at a very high level, and we are proud to have helped as its strategic partner over the past four years. We would have happily continued as Clearstead’s partner indefinitely if not for our legacy PE fund structure.”
While Rosemont has transitioned into a permanent capital investment structure, the transaction represents the third realization for Rosemont Partners III, LP in 2021.
Click here to read the entire MarketWatch article.
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