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- GeoWealth Closes $18 Million Growth Investment Led by BlackRock
GeoWealth Closes $18 Million Growth Investment Led by BlackRock
Slice of Finance Team
05 Aug
Key Highlights:
GeoWealth closes $18 million growth investment led by BlackRock.
Funding will enhance offerings for RIAs and support a broader range of assets.
Kayne Anderson Growth Capital and J.P. Morgan Asset Management participated.
New growth initiatives to be led by Brendan Falls and Cliff Schoeman.
GeoWealth’s platform supports over $28 billion in assets as of December 31, 2023.
Source (Business Wire)
Notable Quotes:
"We’re thrilled to enter this next phase of our growth journey with the backing of BlackRock as a strategic partner and investor. As we continue to invest in our proprietary technology, we will build new offerings that provide RIAs with a flexible, customizable and user-friendly platform."
"RIAs are in the DNA of GeoWealth. This investment and partnership emphasize our commitment to continual innovation for the benefit of RIAs, delivering more scalability, flexibility, customization and exceptional service."
Our Take:
GeoWealth’s recent $18 million growth investment, led by BlackRock, marks a significant milestone in its mission to empower RIAs with cutting-edge technology and comprehensive asset management solutions. The participation of prominent investors such as Kayne Anderson Growth Capital and J.P. Morgan Asset Management further underscores confidence in GeoWealth’s vision and strategy. This infusion of capital is poised to drive innovation in unified managed account capabilities and alternative investment reporting, enhancing the user experience for advisors. GeoWealth’s commitment to scalability, flexibility, and customization will undoubtedly solidify its position as a leader in the TAMP industry, meeting the evolving demands of RIAs and their clients.