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Emigrant Partners takes stake in Verdence Capital

partially assembled jigsaw puzzle shows two businessmen shaking hands

The $3 billion Baltimore-area firm says it will use the funds to invest in its platform, expand its team and develop a national footprint through M&A.

Emigrant Partners, a subsidiary of New York Private Bank & Trust, has completed a minority investment in Verdence Capital Advisors, a financial planning and wealth management firm managing $3 billion and headquartered near Baltimore.

Terms of the investment were not disclosed.

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