Cardea, a wealth manager established in 2018, is looking forward to a fresh start – and it’s getting a multimillion-dollar kickstart from a prestigious source.
On Wednesday, the firm announced that it’s rebranding to Fourcore Capital, with a “unique approach to providing AI-enabled, personalized investment strategies and solutions for data analysis and increased asset liquidity.”
To support that transition, it has acquired select technology and financial assets from Nobel Sustainability Capital Group, a consortium led by relatives of the historical icon Peter Nobel and members of the Wu family.
Alongside the transaction, Nobel Sustainability Capital Group committed up to $25 million in funding as part of Fourcore’s planned capital raise.
“In partnering with Nobel Sustainability Capital Group, Fourcore will serve global investors with leading asset management solutions powered by cutting-edge AI and other emerging technologies,” Jordan Waring, chairman of the management board and CEO of Fourcore Capital, said in a statement.
“Fourcore is not only adapting to the future of finance but actively shaping it,” Waring said.
Among other assets, Fourcore said it snapped up intellectual property and licensing related to blockchain, digital wallets, and tokenization. Additionally, the deal also strategically brings investment management funds and entities to Fourcore, which are expected to boost its assets under management and revenue generation.
The rebranding to Fourcore Capital reflects the firm’s strategic focus on four key pillars: next-gen data analytics, digitization of assets, secure digital wallets, and AI-driven advisory systems.
“This partnership accelerates our growth path, bringing innovative technologies to empower asset managers and advisors with tools for better-informed decision-making on our path to the public markets,” said Neil Fillary, group president and international CEO.
Peter Nobel, who’s stepping in as chairman of Fourcore’s board of directors, said the partnership aligns with Nobel Sustainability Capital Group’s broader altruistic vision of promoting sustainable economic growth and harnessing human ingenuity to create a prosperous common future.
“We look forward to our partnership with Fourcore and in making a greater impact in sustainable investing to further our goal of improving the planet,” Nobel stated.
Peter Knez, chairman of Fourcore’s investment committee and former co-chief investment officer at BlackRock, said the firm’s transformation comes as the broader alternative investment space “stands at a pivotal inflection point.
“We are creating a financial services powerhouse equipped with a proprietary AI platform that will meet the complex, evolving needs of investors—from generation to generation—and revolutionize how we approach alternative assets,” he said.
Meanwhile, a Minnesota-based advisor from Edward Jones has found a new home within Osaic.
Meanwhile, Carson Group extends its acquisition strategy with a Maryland-based advisory practice.
Financial advisor Craig Robson shares the lessons he learned after leaving Merrill Lynch to set up his own practice in the fourth installment of InvestmentNews' new 'Independence Stories' series.
With an aging advisor population, report looks at demographics, structures.
Formerly Fidelity Investments leader will drive move to comprehensive services.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
