Citywire recently spoke with Rosemont to discuss its purchase of a minority stake in Veris Wealth Partners, a San Francisco-based impact investing-focused RIA with about $2 billion in client assets under management.
“The RIA works with ultra-wealthy families and family foundations with assets between $25 million – $100 million looking to make socially conscious investments,” the publication reports. Rosemont currently backs three asset managers and one other RIA. Veris is Rosemont’s second permanent investment.
“This is perfect for the new strategy of the permanent investments,” Rosemont managing director Brad Mook said of Veris. “They wanted to take on a partner that they knew would be with them well into the future so they don’t have to think about a future transaction. It allows them to know that they’re going to remain independent and employee-owned and focused on their mission and not have any competing agendas that could potentially dilute or interfere with their mission.”