Report: Charlesbank-backed Lido Advisors Seeking New Investor

Los Angeles-based wealth management firm Lido Advisors is said to be looking for a new investor, according to a January 21 Citywire report citing sources with knowledge of the situation.

According to the report, Lido’s current private equity sponsor Charlesbank Capital Partners will sell a portion of its stake in the firm as part of any transaction. Charlesbank Capital invested in Lido in 2021, enabling the firm to pursue its RIA acquisition strategy which most recently resulted in the purchases of Pegasus Partners in October 2024 and Avitas Wealth in November.

Sources told Citywire that Lido has retained William Blair and Adrea Partners as its lead investment bankers for the search, with Houlihan Lokey and Piper Sandler providing support. As of its January 2 Form ADV filing, Lido Advisers reported $19B in regulatory assets under management.