First Citizens Wealth boosts private investments for HNW clients

First Citizens Wealth is widening the opportunity for affluent clients to diversify their access to alternative investments.

The North Carolina-based wealth firm announced Wednesday that it has enhanced to its private investment offerings, providing qualified clients access to growth-focused investment opportunities beyond traditional public markets.

These newly expanded private investment options are exclusively available to high-net-worth individuals and institutions. They offer access to private equity, private real assets, and private credit and debt, while lowering the barriers from high capital requirements typically associated with similar investment vehicles.

"These new capabilities further strengthen our wealth franchise and enhance our ability to provide our clients with diverse and innovative investment opportunities," Michael Wilson, executive director of First Citizens Wealth, said in a statement.

"Private investments reflect our commitment to delivering outstanding options and advice to our clients,” he said, underscoring his firm’s commitment to “[ensuring] they have the investment options they need to succeed" in reaching their financial goals.

Qualified clients and institutions gain access to diverse private market sectors and accompanying portfolio diversification, facilitated by personalized portfolio consultations that ensure a tailored approach. These services are complemented by full administrative support to meet the demands of sophisticated private investing.

First Citizens claims a position of authority in the private investment space, given its “specialized sector expertise” and “strong professional relationships.”

"While private investments require longer-term investment horizons, they also offer the opportunity for enhanced diversification and returns,” said Brent Ciliano, chief investment officer at First Citizens Wealth. “In fact, 83 percent of US companies with annual revenues exceeding $100 million are backed by investments from the private market."

The enhancements to First Citizens Wealth’s private investment offerings represent the latest in an expanding line of services since the acquisition of Silicon Valley Bank’s wealth business last year.

Today, it reportedly has over $50 billion in assets under management.