On December 17, 2021, Merchant Investment Management, LLC announced that it had acquired a minority stake in Private Advisor Group.
Under the terms of the transaction, Merchant Investment Management, LLC (“Merchant”) acquired a minority stake in Private Advisor Group (“Private”). Ardea Partners LP (“Ardea”) served as an exclusive financial advisor to Private. Further terms of the deal were not disclosed.
Merchant, based in New York, is a private partnership that specializes in providing growth capital, management resources, strategic opportunities and advice to independent financial services companies.
Private, based in Morristown, New Jersey, is one of the nation’s leading financial services firms. Private has approximately $30 billion in assets under management.
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