On January 21, 2021, Summit Financial Holdings, LLC announced its partnership with Merchant Investment Management, LLC to launch Summit Growth Partners, a vehicle for minority investments.
Under the terms of the transaction, Summit Financial Holdings, LLC (“Summit”) partnered with Merchant Investment Management, LLC (“Merchant”) to launch Summit Growth Partners (“SGP”). SGP will invest in established registered investment advisors and breakaway advisors. Further terms of the deal were not disclosed.
Summit, based in Parsippany, New Jersey, is a registered investment advisor with several affiliated firms including Summit Financial, LLC, Summit Risk Management, LLC, Summit Advisory Services, LLC, Summit Services IT, LLC, and Summit Growth Partners, LLC. Summit has approximately $3.4 billion in assets under management.
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.
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