New Mountain Capital, an alternative investment firm based in New York, is doubling down on its support for RIA firms.
The firm, which oversees nearly $55 billion in assets across private equity, strategic equity, credit, and real estate funds, announced the launch of a new team of experienced professionals to strengthen its presence in the private wealth sector.
New Mountain Capital is a known name in the wealth space, having made a majority investment in minority investments in Homrich Berg in 2021. It also previously held a majority stake in OneDigital, which it sold to Toronto-based Onex in 2020.
“We are thrilled with the world-class team we have assembled to date and are excited to keep building the team in the months and years ahead,” Adam Weinstein, chief operating officer and CFO at New Mountain, said in a statement on Thursday.
The firm's new wealth solutions team is headed by Raleigh Peters, who brings experience from Blackstone where he served as head of global strategic partnerships within private wealth solutions. Prior to that, he was a managing director at JPMorgan Asset Management, overseeing the independent broker-dealer distribution channel.
Over the past year, New Mountain Wealth Solutions has built a team of eight professionals focused on client engagement, operations, and support. The new team members include:
The team also includes Michael McCarthy, managing director for operations, who brings nearly 20 years of experience at New Mountain. Sara McNaughton, vice president for business development, joined New Mountain in 2017.
“At the core of New Mountain’s mission statement is our service to our partners, and we believe the Wealth Solutions team’s professionalism and experience exemplify our mission," Weinstein said.
Asset-Map makes a bet on a partner ecosystem while VastAdvisor goes deeper on AI and CRM integration to help advisors grow.
The fintech firm's Iris agent arrives as other financial planning tech providers move quickly to incorporate AI into their workflows.
Also, a Fidelity veteran goes indie with Osaic OSJ Innovative Financial Group, and Citizens welcomes a sports and entertainment-focused trio previously overseeing $800 million from Morgan Stanley.
Former Osaic executive Shah has joined the self-described AI workforce company as managing director in charge of its engagement efforts with wealth firms.
The SEC enforcement division is reportedly digging into potential conflicts of interest, valuations, and disclosure in fast-growing fund manager-led transactions.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.