On October 21, Hightower Holding announced that it will acquire a majority interest in NEPC, LLC.
Hightower Holding (“Hightower”) announced, on October 21, 2024, that it will acquire a majority interest in NEPC, LLC (“NEPC”). Similar to previous Hightower investments, NEPC is expected to retain its culture, executive team, and investment process. As part of the transaction, NEPC Managing Partner Mike Manning will join the Hightower Board of Directors upon closing. Further terms of the deal were not disclosed.
Hightower, based in Chicago, is a registered investment advisor that provides investment, financial and retirement planning services to individuals, foundations, and family offices, as well as 401(k) consulting and cash management services to corporations. As of June 2024, Hightower had $156 million in assets under management. Berkshire Global Advisors provided industry research on the institutional investment consulting and OCIO industry to Hightower on the transaction.
NEPC, based in Boston, is a global investment consultant, private wealth advisor, and OCIO provider. As of October 2024, NEPC had $1.7 trillion in assets under advisement. Meolis & Company LLC served as financial advisor to NEPC on the transaction.
To read the press release: please click here.