Cerity Partners, one of the premier independent wealth management firms in the U.S., announced today a recapitalization led by Genstar Capital, a leading private equity firm headquartered in San Francisco. Lightyear Capital has been an investor in Cerity Partners since 2017 and will continue to be an investor in the firm.
Cerity Partners is one of the largest and fastest-growing independent wealth management firms in the U.S. From 16 markets across the U.S., the firm’s 425 professionals serve more than 10,000 clients and advise on approximately $50 billion in assets. Cerity Partners provides estate, financial and tax planning, tax preparation, executive financial counseling, retirement plan advisory, and investment management services to high-net-worth individuals and their families, businesses and their leaders, and nonprofit organizations.
Kurt Miscinski, Founder and CEO of Cerity Partners, said, “Our partnership with Genstar Capital allows us to continue enhancing value to our clients, colleagues and communities, as well as accelerating the development of our vision for becoming a first-of-its-kind global professional services firm in wealth management.”
Tony Salewski, Managing Director of Genstar Capital, said, “We are excited to partner with Kurt and the entire management team at Cerity as they continue to scale and drive value for their clients. They are well-positioned to achieve outsized growth through their differentiated approach to wealth management.”
“Working with Kurt and the team at Cerity over the past five years on multiple growth initiatives has been both rewarding and fun,” said Mark F. Vassallo, Managing Partner of Lightyear. “This has been a very successful partnership for Lightyear, and we look forward to our continued involvement in the firm.”
Raymond James and Davis Polk Wardwell LLP served as advisors to Cerity Partners. Jefferies LLC provided advice to certain funds affiliated with Lightyear Capital. Goldman Sachs & Co. LLC and Willkie Farr & Gallagher LLP served as advisors to Genstar Capital.
Founded in 2009, Cerity Partners is a nationally recognized financial and wealth advisory firm serving high-net-worth individuals and their families, businesses and their leaders, and non-profit organizations throughout the U.S. For more information, please visit ceritypartners.com.
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $35 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries. For more information, please visit gencap.com.
Founded in 2000, Lightyear is a financial services-focused private equity firm based in New York. Through its affiliated private equity funds, Lightyear makes primarily control investments in North America-based, middle-market companies associated with financial services, including asset management and wealth management, banks and brokerage, commercial and consumer finance, financial technology, healthcare financial services, insurance, and tech-enabled business services. Lightyear brings focus and discipline to its investment process, as well as operating, transaction, and strategic management experience, along with significant contacts and resources beyond capital. For more information, please visit lycap.com.
