On January 5, 2023, Parallel Advisors has acquired AUTUS Asset Management LLC.
Under the terms of the transaction, Parallel Advisors (“Parallel Advisors”) acquired AUTUS Asset Management, LLC (“AUTUS”). In connection with the transaction, Seward & Kissel client Emigrant Partners (“EP”) fully exited its position in both Parallel and AUTUS. Financial terms were not disclosed.
Parallel Advisors, based in San Francisco, is an independent wealth management firm for individuals, families and trusts with a specialty in taxes and trusts and estates. Parallel manages approximately $5.7 billion in client assets under management.
AUTUS, based in Scottsdale, Arizona, is a boutique asset management firm that provides wealth management services to high-net-worth individuals, families, and endowments. AUTUS oversees approximately $1.4 billion in client assets under administration. Republic Capital Group served as AUTUS's exclusive advisor in this transaction.
EP, based in New York, is a capital and advice partner to wealth management, asset management, and alternative asset management firms. EP makes long-term, non-voting, minority investments and is partnered with firms that advise over $80 billion in aggregate assets under management and assets under advisement.
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