• September 22, 2023

GeoWealth Secures $19 Million in Series B Funding Led by Kayne Anderson Capital Advisors with Follow-on Investment from J.P. Morgan Asset Management | Illinois


GeoWealth, a modern turnkey asset management program (TAMP) built for advisors, today announced it has raised a $19 million Series B funding round led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, with a follow-on investment from J.P. Morgan Asset Management, a strategic investor in GeoWealth since 2018.

“GeoWealth’s rapid growth is a reflection of its exceptional ability to solve the challenges facing financial advisors today,” said Robert Shilton, Managing Director, Growth Equity at Kayne Anderson Capital Advisors. “Whether it’s flexible investment solutions, a modern back office, or an elevated client experience, GeoWealth stands apart from legacy providers by combining the best of SaaS and an outsourced investment platform. We believe GeoWealth is at the cusp of what could be explosive growth, and Kayne is committed to bringing our firm’s full suite of capabilities and expertise to support GeoWealth in the coming years.”

Since GeoWealth’s Series A funding led by J.P. Morgan in December 2018, platform assets have increased over 300% to $16.7 billion and AUM has increased over 700% to $7.3 billion. GeoWealth combines its proprietary, integrated technology with a high-touch outsourced service model, allowing advisors to focus more on what they do best – spending time with their clients. The additional capital will allow the company to significantly expand its product, engineering, and distribution teams.

“It was apparent from our initial meetings with the Kayne team that they were the right partner for our next phase of growth,” saidColin Falls, President of GeoWealth. “We are excited to immediately deploy this growth capital to pursue our most important strategic priorities: accelerating product development to meet the evolving needs of our clients and expanding our distribution team to ensure that all RIAs have access to GeoWealth.”

To learn more about how GeoWealth can serve your firm, please visit geowealth.com.

About GeoWealth

GeoWealth is a turnkey asset management platform (TAMP) and financial technology solution with more than $16B in platform assets and $7B in AUM, built specifically for the needs of modern RIAs. Serving approximately 1,000 independent advisors, GeoWealth’s user-friendly, cost-efficient, integrated technology enables advisors to access a diversified lineup of model portfolios and fully offload mid- and back-office responsibilities, including performance reporting, billing, portfolio accounting and more. Via its customizable open-architecture platform, GeoWealth enables advisors and firms to grow faster and serve clients more efficiently. For more information about GeoWealth, visit us at geowealth.com and follow us on LinkedIn.

About Kayne Partners

Kayne Partners, the Los Angeles-based dedicated growth private equity group of Kayne Anderson Capital Advisors, L.P., leverages its large firm resources to partner and invest in lower middle market, privately held, high growth, enterprise software and tech-enabled service businesses across North America. The team has developed a durable and repeatable investment strategy and process for applying its stage expertise through sourcing and investing in companies at an early inflection point, adding value and scaling through organic growth and M&A, and exiting these must-have assets to strategics & financial sponsors. The team has experience investing across media & telecommunications, supply chain & logistics, financial technology, healthcare IT, security & compliance, and business process outsourcing and automation. For more information, please visit kaynepartners.com.

About Kayne Anderson Capital Advisors

Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on real estate, credit, infrastructure/energy, renewables, and growth equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. As responsible stewards of capital, Kayne’s philosophy extends to promoting responsible investment practices and sustainable business practices to create long-term value for our investors. Kayne manages over $31 billion in assets (as of 9/30/2021) for institutional investors, family offices, high net worth and retail clients and employs over 350 professionals in five core offices across the U.S. For more information, please visit kaynecapital.com.

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SOURCE: GeoWealth

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PUB: 11/04/2021 09:08 AM/DISC: 11/04/2021 09:08 AM


Copyright Business Wire 2021.