Financial Services Acquisitions in New York

Qatar Investment Authority (QIA) has made a strategic growth investment in 5C Investment Partners to support expansion of 5C's direct lending platform and development of new private credit strategies. The partnership positions 5C to broaden capabilities across upper middle‑market sectors (including business services, software and healthcare) as it scales its platform (approximately $3 billion of long‑term investable capital).

Liberty Mutual Investments (LMI) has made a strategic minority (growth capital) investment in Mascarene Partners to provide long-term capital to support the firm’s middle-market transportation and industrial investment platform. Mascarene’s investment process and strategy will remain unchanged; LMI previously acted as a lead anchor investor in Mascarene’s portfolio company Voyager Trucking and holds board representation.

Canaccord Genuity Group Inc., through its U.S. capital markets business, has acquired Carbon Reduction Capital, LLC (CRC-IB), a specialist advisory firm in renewable energy M&A, project finance and capital raising. The CRC-IB partners will lead Canaccord's newly formed Energy Transformation group to expand the firm's advisory capabilities across renewable energy, storage, carbon capture and related energy transition markets; financial terms were not disclosed.

MetLife Investment Management has completed its acquisition of PineBridge Investments from Pacific Century Group, creating a combined platform overseeing $734.7 billion in assets under management on a pro forma basis as of September 30, 2025. The deal adds PineBridge's global footprint and specialized investment capabilities to MIM's institutional scale; the transaction excludes PineBridge's private equity funds group and its joint venture in China.

Fiserv has completed its acquisition of StoneCastle Cash Management, integrating StoneCastle's institutional deposit network and cash management capabilities into Fiserv's payments, core processing and digital banking ecosystem. The deal extends Fiserv's insured deposit and liquidity solutions for financial institutions and merchants and links StoneCastle's capabilities to Fiserv's FIUSD stablecoin and broader cash-management product set; financial terms were not disclosed.

DraftKings has acquired Railbird Technologies Inc. and its wholly owned subsidiary Railbird Exchange, a CFTC‑designated, federally licensed exchange, to accelerate the company's entry into regulated prediction markets. The deal gives DraftKings access to Railbird's technology, licensing and team and will underpin a new DraftKings Predictions product that will offer regulated event contracts across finance, culture and entertainment.

BlackRock completed the acquisition of HPS Investment Partners in a transaction reported at about $12 billion, expanding BlackRock’s private credit and alternative asset capabilities. The deal brings HPS’s sizable private markets platform (reported as roughly $157–165 billion of AUM in sources) into BlackRock’s platform and bolsters its private markets and private credit scale.

OpenAI has acquired New York-based personal finance app Roi in an acqui-hire; Roi will wind down its consumer service and only CEO Sujith Vishwajith is joining OpenAI. Terms were not disclosed; the move bolsters OpenAI's consumer products and personalization efforts by adding Roi's fintech and personalization expertise.

Kennedy Lewis Investment Management acquired the remaining equity stake in CLO platform Generate Advisors from York Capital Management and will rebrand the business as Kennedy Lewis Loan Management. The move gives Kennedy Lewis full ownership of the platform (which manages more than $9 billion in CLO AUM) and positions the firm to scale its CLO and loan-management capabilities under Rizwan Akhter’s continued leadership.

Inveniam Capital Partners has acquired a 20% ownership stake in Rialto Markets as part of a strategic partnership to build a blockchain-based derivatives exchange for tokenized private market assets. The deal combines Inveniam's decentralized data infrastructure with Rialto's SEC-registered ATS and broker-dealer capabilities to enable tradable futures, swaps, and structured products backed by tokenized private securities, aiming to improve liquidity, compliance, and transparency for institutional investors.

Hunter Point Capital and Temasek have made minority investments in Nuveen Private Capital, providing equity and long-term capital commitments to support the platform's growth. Nuveen will retain majority ownership while Churchill and Arcmont senior leadership and employees keep meaningful stakes; the partnership is intended to scale Nuveen Private Capital's private credit capabilities across geographies and strategies.

Insignia Capital Group has made a strategic recapitalization investment in Tidal Investments LLC (Tidal Financial Group), providing capital to support the firm's continued growth while preserving existing majority ownership and executive leadership. The transaction positions Tidal to invest in talent, deepen its ETF services platform and scale operations as the firm supports more than 270 ETFs and over $45 billion in assets under management.

Genstar Capital has closed a majority investment in First Eagle Investments, a New York–based independent investment management firm with approximately $161 billion in assets under management. The deal marks the exit of prior majority owners Blackstone and Corsair and is intended to accelerate First Eagle’s expansion of investment capabilities and client reach while preserving the firm’s independence and management ownership stake.

NFP has acquired Pilot Benefits Group, LLC (dba Pilot|RB), an employee benefits brokerage based in Melville, New York. The Pilot principals, Josh and Ben Senders, will join NFP’s Northeast benefits team as senior vice presidents as NFP expands its presence and capabilities in the Northeast nonprofit and middle‑market employer segments.

Brightstone Specialty Group, a wholly-owned subsidiary of Highstreet Insurance Partners, has acquired RMS Hospitality Group and its sister company Fortis Risk Solutions to expand its specialty insurance offerings for the franchise food, hospitality and restaurant sectors. The deal brings RMS's program administration capabilities and Fortis's third-party claims administration into Brightstone's platform to deepen expertise and coverage solutions for hospitality customers across the United States.

Matt Middleton and Anil D. Aggarwal have acquired a majority stake in ETF.com from ETFS Capital, which will retain a minority interest. Middleton will become CEO and the pair plan to transform ETF.com into an events-driven multimedia platform focused on ETF education, networking, and engaging content for investors and financial advisors.

Man Group has acquired Bardin Hill, a New York–based private credit manager with roughly $3 billion in assets under management. The deal expands Man Group's US private credit capabilities and distribution, while Bardin Hill's CEO Jason Dillow and the existing management team will remain in place to continue their opportunistic and performing credit strategies.

BlackRock has completed its acquisition of HPS Investment Partners and is creating a combined Private Financing Solutions (PFS) platform that integrates BlackRock’s public fixed income capabilities with HPS’s private credit, GP/LP, and CLO businesses. The combined PFS franchise will manage approximately $190 billion in client assets for private credit and maintain HPS branding as “HPS, a part of BlackRock,” with HPS CEO Scott Kapnick joining as an observer to the BlackRock board.

Nuveen has acquired Brooklyn Investment Group and its parent Brooklyn Artificial Intelligence, bringing the firm’s multi-asset custom direct indexing and white‑label technology into Nuveen’s wealth and SMAs platform. The deal expands Nuveen’s tax‑managed, personalized investing capabilities and accelerates integration of alternatives and lifetime‑income solutions across advisor channels.

Saluda Grade, an alternative investment firm focused on asset-based finance, has acquired Hillcrest Finance, a minority- and women-owned commercial real estate (CRE) investment manager based in New York. The deal brings Hillcrest's full-time team into Saluda Grade and expands the firm's CRE finance capabilities while increasing Saluda Grade's assets under management to $2.5 billion.

Infinity Capital Partners has acquired Soundlink Partners, a boutique investment firm focused on healthcare and biotech investment strategies. The deal expands Infinity's sector-specific capabilities in healthcare and biotech and combines the teams to pursue new product development, co-investments, and broader distribution across Infinity's platform.

Blue Owl Technology Finance Corp. (OTF) closed its merger with Blue Owl Technology Finance Corp. II (OTF II), with OTF as the surviving company, creating the largest software-focused BDC with over $12 billion of total assets pro forma and investments in ~180 portfolio companies. OTF II shareholders received 0.9113 shares of OTF for each OTF II share; the companies expect to leverage increased scale to enhance the Blue Owl credit platform and position the combined company for a potential liquidity event.

FTMO group has agreed to acquire OANDA Global Corporation from CVC Asia Fund IV. The deal, whose terms were not disclosed and subject to customary approvals, brings OANDA's multi-asset trading platform and global regulatory footprint under FTMO as it builds a larger trading and education ecosystem.

MassMutual (Massachusetts Mutual Life Insurance Company) has acquired a majority ownership stake in Exos Small Business Lending, which has rebranded as Port 51 Lending. Port 51 will continue operating independently from its New York headquarters and will focus on SBA 7(a) small business lending while leveraging MassMutual's resources to grow the platform.

Wafra Inc., via its Capital Constellation platform, announced a strategic (minority) investment in Niobrara Capital, a newly formed private equity firm focused on technology and technology-enabled services in North America and Europe. The investment will support Niobrara’s growth as it builds its platform and executes on debut and follow-on investments in mid-market B2B technology companies.

Baton, a New York–based marketplace for small and medium-sized business acquisitions, raised $10 million in a Series A led by Obvious Ventures with participation from Burst Capital, FJ Labs, Fluent Ventures, Spencer Rascoff (via 75 & Sunny), and other investors. The funding will be used to accelerate growth of Baton's marketplace, expand listings and platform capabilities, and support more SMB owners through the sale process.

Blue Owl Capital Corporation (OBDC) completed its merger with Blue Owl Capital Corporation III (OBDE), with OBDC as the surviving company. The combined company becomes the second-largest externally-managed, publicly traded BDC by total assets, increasing scale, portfolio diversity and positions to deliver enhanced risk-adjusted returns.

Arrow Financial Corporation announced the legal unification of its subsidiary Glens Falls National Bank and affiliate Saratoga National Bank into a single bank renamed Arrow Bank National Association. The move consolidates branding across the company, strengthens market presence in northeastern New York, and will not affect branch locations, leadership or staffing.

Mercer Global Advisors, a national RIA with approximately $92 billion in client assets, has acquired Long Run Wealth Advisors, a Lake Placid, New York–based wealth management firm with about $640 million in AUM and a seven-person team. The deal expands Mercer’s upstate New York footprint and gives Long Run access to Mercer's centralized estate, tax, investment management and family office resources.

World Insurance Associates LLC acquired the businesses of Christopher Williams Agency and Barrett Millard LLC (both based in the Rochester/Pittsford, New York area) effective January 1, 2025. Terms were not disclosed; World said the additions expand its local service capabilities and network in the Rochester market, and several law and advisory firms advised the parties on the transaction.

Savant Wealth Management, a Rockford, Illinois-based fee-only RIA, has acquired New York boutique RIA Source Financial Advisors, which manages $536 million in assets. The deal closed on December 9, 2024 (terms undisclosed); Source founder Michelle Smith and several team members joined Savant as advisors and staff as part of the transition.

Osaic, a national wealth management platform, announced that Nova Wealth, an independent wealth manager based in Buffalo, New York managing $180 million in client assets, has joined the Osaic network. The move expands Osaic's advisor network and adds Nova Wealth's retirement income distribution planning capabilities to Osaic's platform.

Pinnacle Investment Management Group (ASX: PNI) has made a strategic minority investment in VSS Capital Partners, providing VSS access to Pinnacle's global distribution platform and middle-office infrastructure. Concurrently, VSS expanded its partnership by elevating four senior professionals to partners as it aims to scale its structured capital strategy and broaden its product offerings.

Insurance accounts managed by KKR have made an additional investment in eRESI Capital, a mortgage funding platform that provides private capital solutions and whole-loan purchases to the residential mortgage market. The commitment, via KKR's High-Grade Asset-Based Finance strategy, is intended to broaden eRESI's funding capabilities, help reach new origination milestones, and expand its operational capacity.

Financial Finesse has acquired OfColor, a financial-wellness platform focused on improving outcomes for employees of color. The acquisition adds culturally relevant content and coaching expertise to Financial Finesse’s employer-sponsored financial coaching offerings to broaden its impact and reach.

Kapitus acquired Ten Oaks Commercial Capital and is launching a dedicated equipment financing arm to expand its lending products for small and medium-sized businesses. The deal brings Ten Oaks’ equipment finance origination capabilities and dealer relationships into Kapitus’ platform to accelerate vendor and direct equipment financing and start on‑balance-sheet funding in early 2025.

Clear Street completed the purchase of the Fox River algorithmic trading business from Instinet, integrating Fox River's algorithmic execution solutions into Clear Street’s prime brokerage and cloud-native platform. The acquisition expands Clear Street’s electronic trading capabilities and brings Fox River’s client relationships with buy- and sell-side firms into Clear Street’s service offering.

Blue Owl Capital Inc. completed the acquisition of the business of alternative credit manager Atalaya Capital Management LP, adding Atalaya's asset-based credit capabilities and roughly $10 billion in AUM to Blue Owl's platform. The deal appoints Atalaya founding partner Ivan Zinn as Blue Owl's Head of Alternative Credit and expands Blue Owl's presence in alternative credit and direct lending.

Avantax Inc. has acquired SEP Financial Services, the independent advisory practice founded by veteran CPA/advisor Stephen E. Plain, as part of Plain’s succession plan. Approximately $40 million in client assets and the practice will transition to Avantax Planning Partners to ensure continuity of tax‑intelligent financial planning and wealth management for clients.

BTG Pactual has acquired 100% of M.Y. Safra Bank, FSB, giving the Latin American investment bank a U.S. banking license and a federally regulated banking platform. The New York-based bank (reported net equity of about $46.2 million at announcement) will be renamed BTG Pactual Bank, N.A., and the acquisition expands BTG Pactual's ability to take deposits and extend loans directly in the U.S. market while broadening its product offering for clients.

A consortium of strategic investors led by Pittco Management, Arch Capital Group, BTG Pactual, Consulta Limited, ICONIQ Investment Management, and Menora Mivtachim purchased a 10% common equity interest in Pershing Square Holdco, L.P. from Pershing Square Capital Management for $1.045 billion. The transaction is a minority primary equity sale that brings long-term institutional and strategic investors into the previously employee-owned investment firm.

Talos, a provider of institutional trading technology for digital assets, has acquired Skolem, a DeFi infrastructure and execution technology provider. The acquisition will enable Talos to integrate institutional-grade DeFi access (trading, staking, lending, liquidity provisioning and on-chain data) into its platform to better serve institutional clients.

Morgan Stanley Expansion Capital provided $27.5 million of debt and equity financing to Cover Whale Insurance Solutions to support the insurtech's growth and technology investments. The capital — which also included conversion of existing debt investors into Series A preferred — will help Cover Whale scale its connected commercial auto insurance platform serving trucking fleets and insurance agents.

Fortress management and a consortium led by Mubadala Capital have completed the acquisition of SoftBank Group's 90.01% stake in Fortress Investment Group. Under the transaction, Fortress management holds a 32% equity interest (with board control rights) and the Mubadala-led consortium owns 68%; terms were not disclosed and Fortress will continue to operate independently.

Toggle AI has acquired Atom Finance to integrate Atom’s financial data and analysis capabilities into Toggle’s generative AI investing platform. As part of the transaction, investors SoftBank and General Catalyst joined Toggle AI’s cap table to support the expanded platform and growth plans.

CUBE, a provider of Automated Regulatory Intelligence and Regulatory Change Management solutions, has acquired Reg-Room LLC, a New York–based regulatory intelligence provider serving the financial services industry. The acquisition expands CUBE's regulatory content and horizon-scanning capabilities by integrating Reg-Room's curated regulatory summaries and products (Reg-Track, Reg-Impact, Regulatory Risk Report) into CUBE's RegPlatform and AI engine (RegBrain).

WealthFeed, an AI-based growth platform for financial advisors and a spin-off of Catalyze AI, closed a $2.0 million funding round led by Thicket Ventures with participation from strategic industry executives. The capital will fund product and go-to-market expansion—enhancing WealthFeed's predictive analytics and AI capabilities—and Justin Wisz and Joe Jolson joined the company's board in connection with the round.

Bonaccord Capital Partners, an affiliated manager of P10, Inc., has acquired a passive minority equity interest in Lead Edge Capital, a $5 billion growth equity firm. The investment is intended to support Lead Edge's value-creation initiatives and continued growth while leaving the firm's day-to-day management and investment process unchanged.

Blue Owl Capital Inc. agreed to acquire Prima Capital Advisors for aggregate consideration of $170 million to launch a Real Estate Finance strategy. Prima, a real estate lender and asset manager focused on commercial mortgage-backed securities with roughly $10 billion AUM and majority-owned by Stone Point Capital, will join Blue Owl’s real estate platform upon closing expected in mid-2024.

Empower Finance, a San Francisco-based fintech specializing in alternative credit underwriting, has signed a definitive agreement to acquire Petal (a U.S. consumer credit card fintech) and completed its acquisition of Cashalo (a Philippine digital lending platform). The transactions expand Empower's product capabilities in the U.S. credit card market and give the company a strategic foothold in the Southeast Asian credit market to reach underserved consumers.