New York P.E. Firm Acquires Wealth Management Biz

Nov 14 2006 | 9:12am ET

In a move that illustrates the trend toward mergers and acquisitions of asset management firms, private equity firm Circle Peak Capital on Monday announced the acquisition and recapitalization of WealthTrust, Inc, a Nashville, Tenn.-based wealth management firm. Terms of the deal were not disclosed.

“As our industry continues to undergo major shifts in product and service offerings, consolidation and institutionalization, our team and managers are confident that WealthTrust’s unique platform, talented managers, and value-added capabilities position us well to serve our wealthy investor client base,” said WealthTrust Chief Executive Officer M. Rush Benton.

New York-headquartered Circle Peak Capital partnered with management in the transaction, and junior capital provider Falcon Investment Advisors.

WealthTrust, a subsidiary of Morgan Keegan & Co. and Regions Financial Corporation, employs 125 people and provides wealth management services to high-net-worth families, individuals and institutions. 


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