On January 16, 2024, Wealth Partners Capital Group and HGGC announced that they established a strategic partnership with True North Advisors.
Wealth Partners Capital Group (“WPCG”) and HGGC announced on January 16, 2024, that they acquired a minority stake in True North Advisors (“True North”). True North’s management will retain a majority stake in the company and control its decision-making and day-to-day operations. Further terms of the transaction were not disclosed.
WPCG, based in Palm Beach, Florida, is a financial services holding company which invests and partners with wealth management firms, providing them with capital and strategic support. As of January 2024, WPCG had $33 billion in acquired assets.
HGGC, based in based in Palo Alto, California, is middle-market equity investment firm focusing on leveraged buyout transactions and growth capital investments. As of March 2023, HGGC had $7.5 billion in assets under management.
True North, based in Dallas, is a privately-owned multi-family office serving families, business owners and entrepreneurs. As of December 2023, True North had $3.3 billion in assets under management. Colchester Partners served as True North’s investment banker on the transaction.
To read the press release: please click here.