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FUNDRAISING NEWS | January 28, 2025
Tags: RIA, Mergers / Acquisitions
Arax Investment Partners, a New York-based multi-boutique wealth management firm backed by RedBird Capital Partners, announced the acquisition of Cedrus Financial, a multifamily office operating out of Colorado and Idaho that manages $1B in client assets.
Founded in 2013, Littleton, CO-based Cedrus provides financial planning, portfolio management, and advisor selection services to high-net-worth clients in Colorado and Idaho. Cedrus adds to Arax’s Mountain West footprint and follows its most recent acquisition of $1.7B Denver-based RIA SRS Capital Advisors in June 2024.
Cedrus will operate within Arax Advisory Partners, a network of independent firms that specialize in providing advisory services to a high-net-worth clientele, including elite athletes, and institutions. As of its January 23 Form ADV filing, Arax Advisory Partners reported $2.8B in regulatory assets under management, of which more than $2B is for HNW individuals.
Other RedBird-backed Arax advisory businesses include $9B Houston RIA US Capital Wealth Advisors, which it acquired in April 2024.
Written By: Dakota
March 27, 2024
January 09, 2025
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