Centerbridge Investing $216M into Wealth Management Firm
July 16, 2013
Centerbridge Partners has agreed to invest $216 million into wealth management firm Focus Financial Partners. Focus partners and management will continue to own a majority stake, and early investors Summit Partners and Polaris Ventures will remain shareholders, as well. Focus provides wealth management, benefit and investment consulting services to individuals, families, employers and institutions. It has about $62 billion in client assets and over $250 million in revenue.