Rise Growth Partners has received a $250 million commitment from Charlesbank Capital Partners, a middle-market private investment firm with offices in Boston and New York.
Rise, with capital from Charlesbank and Rise management, will seek to acquire significant minority stakes in select RIA firms. Rise will focus on acquiring stakes in high-growth RIAs with assets under management (AUM) ranging from approximately $1 billion to more than $5 billion. Its approach includes supporting management teams that are looking to accelerate the growth of their firms with the backing of industry experts and growth-oriented capital partners.
Rise intends to announce its select group of initial partner RIAs over the course of 2024.