Pathstone To Acquire Veritable


July 31, 2023

On July 17, 2023, Pathstone announced that it will acquire Veritable LP.

Under the terms of the transaction, Pathstone will acquire Veritable LP (“Veritable”). Pathstone will pay $294 million in cash to buy out Veritable’s majority owner, Affiliated Managers Group. The transaction is expected to close in the third quarter of 2023, subject to customary regulatory approvals.

Pathstone, headquartered in Englewood, New Jersey, is an independent advisory firm that offers investment advice for families, family offices, and foundations and endowments. As of May 2023, Pathstone had over $80 billion in assets under management. Ardea Partners LP served as the financial advisor to Pathstone.

Veritable, headquartered in Philadelphia, Pennsylvania is a registered investment advisor that serves families, family offices, foundations and endowments. As of July 2023, Veritable had roughly $17 billion in assets under management.

To read the press release: please click here.

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