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.

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