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O’Melveny Acts for Kayne Partners Fund in Closing of GeoWealth Funding Round

十二月 01, 2021 FOR IMMEDIATE RELEASE

LOS ANGELES—December 1, 2021—O’Melveny advised Kayne Capital Advisors, the growth private equity group of Kayne Anderson Capital Advisors, as lead investor in GeoWealth’s Series B funding round, which was closed on November 4, 2021. J.P. Morgan Asset Management, a strategic investor in GeoWealth since 2018, provided a follow-on investment.

GeoWealth is a turnkey asset management platform (TAMP) and financial technology solution with more than US$16 billion in platform assets and US$7 billion in AUM, built specifically for the needs of modern RIAs. Serving approximately 1,000 independent advisors, GeoWealth’s user-friendly, cost-efficient, integrated technology enables advisors to access a diversified lineup of model portfolios and fully offload mid- and back-office responsibilities, including performance reporting, billing, portfolio accounting and more.

Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on real estate, credit, infrastructure/energy, renewables, and growth equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. Kayne manages over US$31 billion in assets (as of 9/30/2021) for institutional investors, family offices, high net worth and retail clients and employs over 350 professionals in five core offices across the U.S.

The O’Melveny team advising Kayne Capital Partners was led by corporate partner David Smith with support from counsel Melissa Wright.

About O’Melveny

It’s more than what you do: it’s how you do it. Across sectors and borders, in board rooms and courtrooms, we measure our success by yours. And in our interactions, we commit to making your O’Melveny experience as satisfying as the outcomes we help you achieve. Our greatest accomplishment is ensuring that you never have to choose between premier lawyering and exceptional service. So, tell us. What do you want to achieve? Visit us at www.omm.com or learn more in our firm at-a-glance, annual report, and on LinkedIn, Twitter, Facebook, Instagram, and YouTube. Visit The Boardroom for our insights on pressing issues facing global corporations.

Contact:

Christopher Rieck
O’Melveny & Myers LLP
+1 212 326 2218
crieck@omm.com


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GeoWealth issued the following release:

GeoWealth Secures $19 Million in Series B Funding Led by Kayne Anderson Capital Advisors with Follow-on Investment from J.P. Morgan Asset Management

The modern TAMP focused on servicing the needs of RIAs will use the minority investment to accelerate product expansion and distribution

November 4, 2021 –– GeoWealth, a modern turnkey asset management program (TAMP) built for advisors, today announced it has raised a $19 million Series B funding round led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, with a follow-on investment from J.P. Morgan Asset Management, a strategic investor in GeoWealth since 2018.

“GeoWealth’s rapid growth is a reflection of its exceptional ability to solve the challenges facing financial advisors today,” said Robert Shilton, Managing Director, Growth Equity at Kayne Anderson Capital Advisors. “Whether it’s flexible investment solutions, a modern back office, or an elevated client experience, GeoWealth stands apart from legacy providers by combining the best of SaaS and an outsourced investment platform. We believe GeoWealth is at the cusp of what could be explosive growth, and Kayne is committed to bringing our firm’s full suite of capabilities and expertise to support GeoWealth in the coming years.”

Since GeoWealth’s Series A funding led by J.P. Morgan in December 2018, platform assets have increased over 300% to $16.7 billion and AUM has increased over 700% to $7.3 billion. GeoWealth combines its proprietary, integrated technology with a high-touch outsourced service model, allowing advisors to focus more on what they do best – spending time with their clients. The additional capital will allow the company to significantly expand its product, engineering, and distribution teams.

“It was apparent from our initial meetings with the Kayne team that they were the right partner for our next phase of growth,” said Colin Falls, President of GeoWealth. “We are excited to immediately deploy this growth capital to pursue our most important strategic priorities: accelerating product development to meet the evolving needs of our clients and expanding our distribution team to ensure that all RIAs have access to GeoWealth.”

“Whether it’s flexible investment solutions, a modern back office, or an elevated client experience, GeoWealth stands apart from legacy providers by combining the best of SaaS and an outsourced investment platform.”
– Robert Shilton, Managing Director, Growth Equity at Kayne Anderson Capital Advisors

About GeoWealth
GeoWealth is a turnkey asset management platform (TAMP) and financial technology solution with more than $16B in platform assets and $7B in AUM, built specifically for the needs of modern RIAs. Serving approximately 1,000 independent advisors, GeoWealth’s user-friendly, cost-efficient, integrated technology enables advisors to access a diversified lineup of model portfolios and fully offload mid- and back-office responsibilities, including performance reporting, billing, portfolio accounting and more. Via its customizable open-architecture platform, GeoWealth enables advisors and firms to grow faster and serve clients more efficiently. For more information about GeoWealth, visit us at geowealth.com and follow us on LinkedIn.

About Kayne Partners
Kayne Partners, the Los Angeles-based dedicated growth private equity group of Kayne Anderson Capital Advisors, L.P., leverages its large firm resources to partner and invest in lower middle market, privately held, high growth, enterprise software and tech-enabled service businesses across North America. The team has developed a durable and repeatable investment strategy and process for applying its stage expertise through sourcing and investing in companies at an early inflection point, adding value and scaling through organic growth and M&A, and exiting these must-have assets to strategics & financial sponsors. The team has experience investing across media & telecommunications, supply chain & logistics, financial technology, healthcare IT, security & compliance, and business process outsourcing and automation. For more information, please visit kaynepartners.com.

About Kayne Anderson Capital Advisors
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on real estate, credit, infrastructure/energy, renewables, and growth equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. As responsible stewards of capital, Kayne’s philosophy extends to promoting responsible investment practices and sustainable business practices to create long-term value for our investors. Kayne manages over $31 billion in assets (as of 9/30/2021) for institutional investors, family offices, high net worth and retail clients and employs over 350 professionals in five core offices across the U.S. For more information, please visit kaynecapital.com.