CONSHOHOCKEN, PA, March 9, 2021 – Rosemont, a private investor in employee-owned asset and wealth management firms, announces it has entered a definitive agreement to sell Rosemont Partners III, LP’s minority equity interest in Litman Gregory to iM Global Partner.
Litman Gregory is a nationally recognized asset and wealth management boutique with $6.2 billion in assets under management and advisory*. It has been constructing globally diversified portfolios for individuals, families, foundations, and endowments since 1987, and has built a reputation for in-depth investment research and personalized wealth management.
“Litman Gregory was one of our first investments in Fund III, and we have enjoyed a productive relationship since 2013,” said Brad Mook, Managing Director at Rosemont. “Known for its highly regarded investment research and client solutions, Litman Gregory is positioned well to continue building on its legacy. We congratulate the firm on its success to date and wish it well in the years ahead.”
“Rosemont has been helpful on a range of issues over the past eight years,” said Steve Savage, CEO of Litman Gregory. “We’ve benefited from their industry knowledge on strategic topics such as new business initiatives and M&A as well as operational areas such as personnel and compensation. They’ve made numerous introductions to potential employees, clients and acquisitions and we appreciate their efforts on our behalf.”
The transaction represents the second realization for Rosemont Partners III, LP in 2021, continuing Rosemont’s shift to a permanent capital investment structure. It is subject to SEC approval and is expected to close in the second quarter of 2021.
About Litman Gregory
Founded in 1987, Litman Gregory is a nationally recognized boutique wealth management firm based in the San Francisco Bay Area. Litman Gregory Asset Management provides high-touch wealth and asset management services to individuals, multigenerational families, and nonprofits. Litman Gregory advises the PartnerSelect Funds, provides investment strategy implementation to third-party platforms through Litman Gregory Portfolio Strategies, and offers portfolio guidance and investment research to professional investment advisors through Litman Gregory AdvisorIntelligence. The firm oversees $6.2* billion in investment assets. For more information see www.litmangregory.com.
*The Litman Gregory companies that manage assets include Litman Gregory Asset Management, LLC and Litman Gregory Fund Advisors, LLC. Data are as at end December 2020.