Miracle Mile merges with Karp


September 26, 2022

On September 16, 2022, Miracle Mile Advisors and Karp Capital Management announced a plan to merge.

Under the terms of the transaction, Miracle Mile Advisors (“Miracle Mile”) will merge with Karp Capital Management (“Karp”). The private equity firm Corsair Capital plans to make a significant investment in the new, combined entity. The transaction is expected to close in November of this year. Financial terms were not disclosed.

Miracle Mile, based in Los Angeles, is a registered investment advisor with approximately $2.8 billion in client assets under management. Miracle Mile serves individuals, families, business owners and institutions.

Karp, based in the San Francisco Bay area, is a wealth management firm serving business owners in the automotive sector and other high-net-worth clients. Karp manages over $1.2 billion in client assets. Both Miracle Mile and Karp received financial advice on the transaction from the asset & wealth management investment banking team of Raymond James.

To read the press release, please click here.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.