Hightower to Acquire Majority Stake in NEPC

Hightower Holding said it has agreed to acquire a majority stake in investment consultant and OCIO solutions provider NEPC, a move that will allow the Hightower Advisors RIA network to leverage NEPC’s institutional research, alternative assets, and OCIO capabilities. 

NEPC and Hightower Advisors will operate under a common parent company, Hightower Holding, and the companies said NEPC is expected to retain its executive team and investment process. NEPC Managing Partner Mike Manning will also join the Hightower board upon closing of the deal.

The combined Hightower and NEPC will “strategically position both firms across their target markets and adds scale and resilience,” Hightower said in an October 12 press release, and the organization will have over $1.8T in AUA and $258B in AUM. 

“This is a transformational combination that highlights the future of financial services and wealth management. Our relationship with NEPC stemmed from the exciting and distinctive opportunity that both businesses can offer the private wealth market when combined,” Hightower Holding Chairman and CEO Bob Oros said. 

NEPC was advised by Moelis & Company LLC, and Goodwin Procter LLP provided legal counsel. Berkshire Global Advisors provided industry research on the institutional investment consulting and OCIO industry to Hightower, while Kirkland & Ellis LLP served as legal counsel.

New call-to-action

Written By: Dakota

logo-1

The Database For Cold Outreach to Reach Institutional and RIA Investors