Private Equity-Backed Financial Services Acquisitions

Harvest Commercial Capital (HCC) announced a merger with Crossroads Impact Corp (CRSS) to combine HCC’s owner-occupied small business commercial lending platform with Crossroads’ residential CDFI capabilities. The combined organization will continue operating under their respective brands and aims to expand access to capital in low- and moderate-income communities while enhancing CRA and SBA-focused lending solutions.

The Vistria Group has acquired Lumen Holdings, a Dallas-based, technology-enabled managing general agent (MGA), and established it as a new platform within Vistria's Financial Services strategy. The investment will support expansion of Lumen’s KURRENT digital underwriting platform, underwriting capabilities across commercial and personal lines, and broader program launches nationwide.

Fiduciary Services Group (FSG) has acquired Future Planning Associates, Inc. (FPA), a Vermont-based third-party administrator and recordkeeper, and will integrate the business into DWC, FSG’s national TPA platform. The acquisition strengthens FSG’s New England footprint, adds recordkeeping capability, and addresses FPA’s upcoming technology transition by leveraging PCS Retirement’s modernization experience.

MPowered Capital has made a seed capital investment in A1A Investment Partners to accelerate A1A's healthcare-focused private credit platform. The partnership will provide capital and strategic support (via MPowered's GSP seeding strategy and MULTIPLIER PROGRAM) to help A1A scale its investment activity across the U.S. lower middle market.

Blue Ridge Associates has acquired the ESOP third‑party administration (TPA) services business from AmbroseAdvisors, including the ESOP administration team and clients. AmbroseAdvisors will retain its advisory business while Blue Ridge expands its ESOP administration capabilities and client base to meet growing demand for ESOP formation and related services.

Carson Group has fully acquired its Carson Wealth location in Milton, Georgia, bringing the Milton, Atlanta and Dunwoody offices under a wholly owned structure. The move is intended to deepen Carson Group’s regional footprint in Georgia, expand client access to tax planning and private client services, and support advisor succession and future acquisitions across the Southeast.

Boston-based CW Advisors has acquired Rovin Capital, a fee-only RIA with offices in Lehi, Utah and Mesa, Arizona, adding $849 million in combined assets under management and advisement. The undisclosed-term deal expands CWA's footprint in the western United States — giving CWA its first Utah office and making Mesa its second Arizona location — and positions Rovin to lead regional growth efforts.

CAPTRUST Financial Advisors has onboarded Meritage Portfolio Management, a Kansas City–based wealth and investment management firm with $2.4 billion in client assets. The Meritage team of 17 colleagues (including nine advisors) joined CAPTRUST in a deal that closed in December 2025 and will operate under the CAPTRUST brand; Houlihan Lokey served as Meritage's financial advisor.

Pivotal Growth Limited (part of the Pivotal group) has completed the acquisition of CLS Money Limited and entered into an agreement to acquire Simply Lending Solutions Limited, subject to customary closing conditions. The deals expand Pivotal’s specialist mortgage advisory capability in the UK, bringing together firms with a technology-led approach and a combined revenue base of more than £10 million and a combined workforce of over 100 colleagues.

Ares Management Corporation has completed the acquisition of all outstanding shares of BlueCove Limited, a London-based systematic fixed-income manager. The integrated business will operate as Ares Systematic Credit within the Ares Credit Group to expand Ares' capabilities in data-driven, systematic fixed-income investing.

Pepper Advantage, backed by J.C. Flowers & Co., has completed the acquisition of Computershare’s UK mortgage servicing business, Computershare Loan Services. The deal boosts Pepper Advantage’s UK AUM to ~£50 billion (global AUM to €75 billion), expands its servicing footprint in London and Uxbridge, and enables wider deployment of its PRISM credit management platform across the acquired portfolio.

K2 Group Holdings Limited (K2 International) has acquired the management liability underwriting business and book of business from Rising Edge, establishing a new London-based division rebranded as K2 Executive Risk Limited led by Yoel Brightman. The deal transfers the existing book and capacity arrangements to K2 and expands the group's Financial Lines capabilities within its London underwriting platform.

Cetera Financial Group has completed the acquisition of Plains Wealth Management, a Houston-based independent wealth management practice that oversees approximately $400 million in client assets. The Plains team will join The Retirement Planning Group (TRPG), Cetera's employee-based RIA, expanding TRPG's footprint into the Houston market and providing the Plains team with growth and succession options.

Warner Pacific, a PE-backed national general agency, has acquired Brokers Holding Group (BHG), a South Carolina–based general agency specializing in level-funded health plans and alternative funding strategies. The deal expands Warner Pacific’s footprint across the Southeast (South Carolina, North Carolina, Georgia and Tennessee) and deepens its capabilities in level-funded employee benefits while BHG will continue operating under its existing brand with co-owners Scott Lee and Lee Long remaining in leadership roles.

Merit Financial Advisors has acquired TL Financial Group, a Southgate, Michigan-based wealth management firm, adding approximately $217 million of client assets and establishing Merit's first office in Michigan (Detroit metro). The transaction closed on January 23, 2026; TL founder Tony LaJeunesse will join Merit as wealth manager, area director, and partner. Financial terms were not disclosed.

Lovell Minnick Partners closed a single-asset continuation vehicle for SRS Acquiom in a transaction led by Carlyle AlpInvest, providing fresh capital and a refreshed ownership structure while keeping existing and new investors and management as shareholders. The recapitalization is intended to support SRS Acquiom's next phase of growth — including international expansion across the U.K. and Europe, a push on strategic acquisitions, and further investment in tech-enabled solutions.

Peachtree Group has completed the acquisition of First Western SBLC, LLC, which operates as PMC Commercial Trust, a Dallas-based nationwide direct lender specializing in SBA 7(a) loans. The transaction, approved by the U.S. Small Business Administration, brings SBA lending capabilities into Peachtree's credit platform while PMC will continue operating under its existing name and leadership.

Cetera Financial Group has acquired the wealth management business of Darnall Sikes Wealth Partners, adding approximately $1.9 billion in client assets to its RIA model. The Darnall Sikes team — based in Louisiana with four locations and clients across more than 40 states — will join Avantax Planning Partners within Cetera's RIA channel, providing succession solutions for the firm's advisors and expanding Cetera's advisor network and AUM.

Portage Ventures (part of Power Corp./Sagard) has taken over management of Point72 Ventures' fintech portfolio — stakes in about 40 private fintech companies — and rolled the assets into a new US$280 million continuation fund. Point72 Ventures retains a 40% stake in the vehicle, which was financed by Goldman Sachs Asset Management, Portage and an unnamed European family; Point72 partner Tripp Shriner joined Portage as a general partner.

Kelso & Company closed a nearly CAD 400 million secondary minority common equity investment to acquire a 25% stake in Wellington-Altus Financial Inc., implying an enterprise value of more than CAD 1.5 billion. The transaction provides liquidity to existing advisors and employees while supporting Wellington-Altus’s continued growth as the firm surpasses 1,000 employees and CAD 45 billion in assets under administration.

Blockstream Capital Partners announced the acquisition of a division of Numeus Group, including a ten-person Bitcoin derivatives trading team led by Deepak Gulati. Komainu will provide corporate support, exchange connectivity, collateral management and custodial services as BCP integrates Numeus's Bitcoin derivatives and yield-generation capabilities into its institutional platform.

Verso Group, a Cairngorm Capital portfolio company, has acquired Everlong Wealth Limited, a Midlands-based chartered financial planning firm. The add-on deal expands Verso's adviser network and strengthens its presence and capabilities across the Midlands.

EP Wealth Advisors, a fee-only registered investment advisor, has partnered with Capital Insight Partners, a Scottsdale-based wealth management firm with over $730 million in AUM, and integrated the CIP advisory team into EP Wealth’s Arizona region. Nine members of the CIP team will join EP Wealth; CIP co-founder Susan Anastasiadis will join EP Wealth as Senior Vice President. Financial terms were not disclosed.

Patria Investments Limited (NASDAQ: PAX) completed the acquisition of a 51% stake in Solis Investimentos, a Brazilian investment manager specializing in structuring and managing CLOs. The transaction adds approximately US$3.5 billion of fee-earning AUM to Patria's credit platform, while Solis' founders and a team of more than 100 professionals will remain in place across offices in São Paulo and Fortaleza.

Apella Wealth announced that PBMares Wealth Management, the wealth management division of PBMares LLP based in Williamsburg, Virginia, has joined Apella, expanding the firm's Mid‑Atlantic presence. The deal closed December 31, 2025 and brings Apella closer to $10 billion in assets under management while adding advisory and CPA expertise to its platform.

Mercer Advisors, a Denver-based national RIA, has acquired Glass Jacobson Wealth Advisors, a Baltimore-based wealth management firm overseeing approximately $1 billion in assets under management. The deal expands Mercer's Mid-Atlantic footprint and brings Glass Jacobson's tax-integrated wealth management capabilities onto Mercer's national platform.

Lexington-based MCF Advisors LLC has acquired Louisville fee-only Registered Investment Adviser Accredited Wealth Management LLC, adding $178 million of AUM and expanding MCF's presence in the Louisville market. The founders of AWM, Steve Giacobbe and Shawn Clark, joined MCF as Senior Financial Advisors and Partners; the deal is MCF's first transaction since taking an equity investment from Wealth Partners Capital Group and the Aspire Holdings platform of HGGC, and increases MCF's AUM to about $3.9 billion.

Mercer Global Advisors has acquired Thompson Advisory Services, a Portland-based registered investment adviser managing approximately $260 million in client assets. The four-person team from Thompson Advisory will join Mercer to expand the firm’s presence in the Pacific Northwest and gain access to Mercer’s institutional capabilities in investment management, tax, trust and estate planning.

Earned, a PE-backed wealth management platform focused on healthcare professionals, has acquired OJM Group, a Cincinnati-based registered investment adviser serving physicians and high-net-worth clients. The deal adds nearly $1 billion in assets under management and brings OJM's ~12-person team onto Earned's platform, further expanding Earned's integrated services for medical professionals.

Waverly Advisors has acquired certain business lines from Chicago-based Promus Holdings, adding approximately $3.1 billion of AUM and expanding Waverly's private equity, real estate, and multi-family office capabilities. The deal closed November 14, 2025; financial and legal terms were not disclosed, and Waverly formed a new subsidiary, Promus Capital Management, to operate the acquired strategies.

Wealth Enhancement, a national independent wealth management firm, has acquired Cincinnati-based hybrid RIA L.M. Kohn & Company, which oversees more than $2.2 billion in client assets and employs 23 people. The deal closed on December 6, 2025 and increases Wealth Enhancement's total client assets to over $131 billion, while expanding its footprint across the Midwest and South.

Affiliates of Castle Creek Capital acquired $40 million of common stock in FirstSun Capital Bancorp from legacy stockholders, becoming one of the company's largest institutional shareholders with roughly a 4% stake. The investment is intended to support FirstSun as it pursues a proposed merger with First Foundation Inc. and Castle Creek expects to join the company's board subject to regulatory and closing conditions.

Allworth Financial has acquired Needham, Massachusetts–based fiduciary advisory firm FSA Wealth Management, which oversees $460 million in assets under management. The deal brings six professionals (including five advisors and two managing partners) into Allworth's Greater Boston operation as the team transitions into Allworth's Waltham office to deepen the firm's up‑market advisory capabilities.

Anderson Global has acquired Woodside Corporate Services Limited and its parent entities to expand its UK corporate and fund services capabilities. The deal will keep Woodside operating as a standalone business while integrating with the Kin Group technology platform to broaden fund administration, custodial and company secretarial offerings.

Wealth Enhancement has acquired FPG Private Wealth, a hybrid RIA with locations in Carmel and Lafayette, Indiana that oversees more than $532 million in client assets. The deal, which closed November 30, 2025, expands Wealth Enhancement’s Midwest footprint and marks its first office presence in the greater Indianapolis market, increasing the firm's total client assets to more than $127.8 billion.

FalconX has completed the acquisition of 21shares, a leading issuer of crypto exchange-traded products (ETPs), to expand its product, structuring and market infrastructure capabilities across the United States, Europe and Asia-Pacific. 21shares will remain an independently managed business under FalconX with Russell Barlow continuing as CEO, and FalconX says existing ETP/ETF investment objectives will not change.

Merit Financial Advisors has acquired Blueprint Wealth Advisors, adding $1.2 billion in assets and expanding Merit's presence in Illinois and Wisconsin, including entry into the Chicago market. Blueprint’s managing partners Ryan Evans and Nick Wilkins will join Merit as Regional Directors and Partners; FP Transitions served as advisor and financial terms were not disclosed.

D2 Asset Management has integrated the Residential Capital Partners team into its residential credit platform. The Dallas-based private lender's origination and servicing capabilities will combine with D2's institutional capital and capital markets infrastructure to expand direct lending products for single-family real estate investors, including transition, construction, and long-term rental loans.

OneDigital Investment Advisors LLC (a subsidiary of OneDigital) has acquired Signature Wealth Management Group (SWMG), a nine-person Atlanta-based wealth and retirement advisory firm that manages nearly 2,000 accounts. The deal expands OneDigital’s financial services capabilities in the South, strengthens its Atlanta presence, and integrates SWMG into OneDigital’s national platform; SWMG was represented by FP Transitions in the transaction.

ReSource Pro, a strategic operations partner to the insurance industry, has acquired Supportive Insurance Services (SIS), a provider of licensing and renewal services for agents, brokers, adjusters and insurers. The deal expands ReSource Pro’s compliance and licensing capabilities—adding SIS’s adjuster licensing expertise to ReSource Pro’s existing surplus lines tax, corporate and franchise tax reporting, and other regulatory services.

Great American Holdings, LLC (GA Group), a PE-backed provider of valuation and field exam services, has acquired CBC Group LLC, a specialist in asset-based lending field examinations. The deal folds CBC's team into GA Group's field exam group to expand capabilities and North American coverage, bringing the combined field exam headcount to nearly 40 examiners.

Waverly Advisors, a Birmingham-based registered investment adviser, has acquired Cape Cod-based Bridge Creek Capital Management. The acquisition, which closed October 31, 2025, brings roughly $447 million of AUM onto Waverly’s platform and expands the firm’s presence in Massachusetts as the entire Bridge Creek team joins Waverly.

Merit Financial Advisors has acquired Mennenga Tax & Financial, adding $715 million in client assets and more than 35 employees. Founder Marshall Mennenga will join Merit as Wealth Manager, Tax Advisor, and Partner; the deal expands Merit's tax planning and wealth management capabilities in Wisconsin and provides Mennenga access to Merit’s technology and resources. The transaction closed on October 31, 2025; financial terms were not disclosed and FP Transitions advised on the deal.

Cerberus Capital Management has completed its acquisition of BROCC Finance AB following regulatory approval from the Swedish Financial Supervisory Authority. Cerberus will back BROCC to accelerate its Nordic consumer finance business and expand into European non-performing loan (NPL) asset management as a specialised debt restructurer, with BROCC planning to acquire NPL portfolios and meet SDR-compliant prudential ratios by the end of 2025.

SavvyMoney, a Dublin, California–based provider of credit-score and financial wellness software for banks and fintechs, raised a $225 million minority investment co-led by PSG and Canapi Ventures, with continued investment from Spectrum Equity. The capital will accelerate SavvyMoney’s product roadmap, AI capabilities and go-to-market expansion across its network of more than 1,500 financial institution partners.

KittyHawk, a Los Angeles-based technology investment firm, has acquired Exit Ventures and appointed Exit Ventures founder Paul Burgon as a Partner. The acquisition integrates Exit Ventures' early-stage energy, AI infrastructure, and sustainable materials portfolio into KittyHawk's Frontier funds to deepen the firm's capabilities in energy and climate investing and expand strategic exit opportunities.

KKR has completed the acquisition of OSTTRA from a 50/50 joint venture owned by S&P Global and CME Group for a total enterprise value of $3.1 billion. OSTTRA, a post-trade services provider serving banks, broker-dealers and asset managers, will be owned by KKR following the closing; proceeds are to be divided evenly between S&P Global and CME Group.

Allworth Financial, a national registered investment advisor backed by Lightyear Capital and Ontario Teachers' Pension Plan Board, has acquired Norwood, Massachusetts-based Shorepoint Capital Partners, which manages approximately $850 million in assets. The deal brings Shorepoint’s 10-person team and expanded UHNW investment capabilities to Allworth as the firm cements its Boston presence and expands its alternative investment and advisory offerings.

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.

Main Street Capital Corporation invested $14.0 million in a minority recapitalization of The Financial Risk Group, LLC (FRG), funding the transaction with a combination of first lien senior secured term debt and a direct equity investment. FRG, headquartered in Cary, North Carolina, is a technology-enabled risk management firm that provides risk analytics, data management consulting, software implementation and cloud-based hosting services to financial institutions, insurers and other commercial customers.