Charlesbank Capital Partners, a private equity firm based in New York and Boston, has taken a “significant” stake in Lido Advisors, a Los Angeles-based registered investment adviser managing more than $9 billion.
Founded in 1999, Lido currently has offices in 12 metropolitan areas and plans to expand across the country organically and through acquisitions, the firm said in a release. Its executive team will remain.
The transaction, the terms of which were not disclosed, is expected to close in June.
Fee-only RIA welcomes a 50-year-old Southern California firm as its agentic AI platform, becomes part of the pitch to selling advisors
A four-advisor group from UBS joins Raymond James in Beachwood while a 36-year Cetera veteran moves his $390 million practice to LPL.
Bluespring, Robertson Stephens, Cetera and Aprio each close acquisitions as independent advisory firms weigh their next chapter.
The $71 billion firm’s latest tuck-in lands as middle-market sellers face rising buyer selectivity and steeper equity demands.
Executives allegedly sold while key revenue metric was inflated.
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