Lovell Minnick Partners (LMP) has acquired Pathstone Federal Street, a registered investment advisory with over $15 billion in assets under advisements.
Matt Fleissig, president of Pathstone, said, “We set out to build a truly modern family office powered by next generation technology and a culture of innovation or, as we like to say, an organization that is ‘smart in a way that matters.’ With our partnership with LMP, we continue our focus on investing financial and intellectual capital in further developing client solutions.”
Financial terms of the private transaction were not disclosed.
Under the terms of the transaction, Pathstone will remain independent and it will continue to be managed by its existing leadership team. In addition, Pathstone will add 16 existing employees as new shareholders, bringing total employee ownership to 48 of the Company’s 110 employees. With LMP’s investment, Pathstone’s current financial partner, Fiduciary Network,
