FJM Acquires 20% Stake in $4.7B UHNW Atlanta RIA Balentine

Utah-based private holding company FJ Management (FJM) has acquired a 20% stake in Balentine, an employee-owned, boutique wealth management firm serving ultra-high-net-worth clients.

Balentine said the investment provides it with long-term “patient capital” to strengthen its succession planning and growth. As part of the transaction, FJM receives one of five seats on Balentine's board of directors.

According to its website, FJ Management manages a portfolio of petroleum, healthcare, and hospitality-related assets and has invested more than $100M since its founding in 2007. In a statement announcing the tie-up, Balentine CEO Adrian Cronje said that unlike “a typical private equity investor, FJM is committed to a longer path and a more intentional pace of growth for our firm.”

Balentine reported $4.7B in regulatory assets under management, $3.4B of it from HNW individuals, as of its January 14 Form ADV filing.