Emigrant Stakes $1.8B Charlotte (NC) RIA Novare Capital Management

Emigrant Partners announced that it has invested in Novare Capital Management, a fee-only, Charlotte, NC-based RIA managing $1.8B in client assets.

In a statement, Emigrant said the investment will provide NCM with capital and strategic advice that will aid the RIA’s growth and enhance its capabilities to provide investment planning and risk management services to high-net-worth individuals and families.

Founded in 1999 by advisors William G. Baynard, Jr. and Don E. Holmstead, NCM aims to expand its services across the Southeast region with the help of Emigrant’s investment. Holmstead, who serves as the firm’s managing director, said “it will allow us to make deeper investments in our team, our services and our resources, and ultimately allow Novare to deliver the best possible experience and results for our clients.”

The investment in NCM is the first transaction that Emigrant has made since hiring Raymond James veteran Karl Ingram earlier in January to lead RIA deal identification.