Steward Partners Secures Investment from The Pritzker Organization

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Posted on July 26 , 2021 By admin

WASHINGTON, June 9, 2021 /PRNewswire/ -- Steward Partners Global Advisory, LLC, an employee-owned, full-service independent wealth management firm, announced today the closing of a $100 million minority investment by The Pritzker Organization, which will give them two seats on Steward's independent Board of Directors.

"We're pleased to welcome The Pritzker Organization as a minority investor in Steward Partners," said Jim Gold, Steward Partners' CEO. "We've been very selective when it comes to choosing outside investors. We want to make sure that our goals and long-term vision are in alignment. The Pritzker family's "buy to build" strategy is the opposite of the typical private equity "buy to sell" mentality. Their permanent capital base gives The Pritzker Organization the ability to invest for long-term appreciation."

The Pritzker Organization's history over the past 60 years has led to investments in over 200 firms representing $30 billion in equity value. The Pritzker Organization's investment is only the second time Steward Partners has accepted outside capital. The Cynosure Group, a Salt Lake City-based private investment firm serving families and foundations, made a $50 million investment in Steward in March of 2019, and will remain fully invested.

"Steward Partners has been realizing steady growth both organically and strategically over the last few years, as in our recent expansion to the west coast with the acquisition of Umpqua Investments," states Hy Saporta, Steward Partners' President. "This additional capital will support our efforts to continue growing our network into additional markets. The Pritzker Organization will be a great partner, and we look forward to a long and productive relationship with them." "The Pritzker Organization has been studying the wealth management industry for several years. We selected Steward Partners because they align perfectly with our mission of finding great partners to grow and build businesses alongside," said Jason Sussman, Principal, The Pritzker Organization. "Steward Partners has an impressive management team, and we were particularly impressed with their ability to drive and manage their growth."

Steward Partners, founded just eight years ago, is one of the country's fastest growing independent wealth management firms. Steward currently has 170 Advisors in 27 offices managing $23 billion in client assets and ranked #24 on Barron's list of Top RIAs in 2020. Steward also has been named to InvestmentNews and Washington Business Journal's "Best Places to Work" lists.

The Pritzker Organization worked with its Advisory Partner Scott Roulston on the investment and received legal advice from Latham and Watkins. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Steward in connection with this transaction, and Goodwin Procter provided legal advice.

About Steward Partners Global Advisory

With offices in Fort Collins, CO., Newtown, CT., Washington, D.C., Clearwater, FL., Shreveport, LA., Andover and Boston, MA., Baltimore and Bethesda, MD., Portland, ME., St. Louis, MO., Hendersonville, NC., Keene, Manchester and Portsmouth, NH., Paramus and Morristown, NJ., Albany and New York City, NY., Conshohocken, PA., Austin, Dallas and Houston, TX., McLean, Norfolk and Richmond, VA., Steward Partners Global Advisory, LLC, is an employee-owned, full-service independent partnership catering to family, institutional and multigenerational wealth. For more information, visit us at www.stewardpartners.com.

About The Pritzker Organization

The Pritzker Organization (TPO) is the merchant bank for the business interests of the Tom Pritzker family. TPO is focused on partnering with exceptional leaders to create value across a wide range of industries. TPO looks for opportunities where it can create value for the family's interests and those of its partners and colleagues over a significant time horizon. For more than 60 years, TPO has overseen and guided the development of dozens of portfolio companies across a wide variety of industries, including manufacturing, logistics, life sciences, hospitality, healthcare and services. Notable businesses include Hyatt Hotels, Triton Container and the Marmon Group. Recent control investments include TMS International, Lithko Contracting, KBP Investments, Mammoth Holdings, STV Inc, and Crown Healthcare Laundry Services. In addition to its core strategy of building businesses over the long term, TPO is also active in special situations, advising the family's interests in the deployment of capital across a wide spectrum of industries and investment structures. Additional information can be found at www.pritzkerorg.com.

Steward Partners Global Advisory, LLC, is an employee-owned, full-service independent partnership catering to family, institutional and multigenerational wealth. For more information, visit us at www.stewardpartners.com.

Steward Partner Investment Solutions, LLC member FINRA/SIPC. Investment advisory services offered through Steward Partners Investment Advisory, LLC, 1776 I Street NW, Suite 700, Washington, DC 20006. Toll Free: (844) 801-8268.

Barron's Top 100 RIA Firms, 2020. Barron's is a registered trademark of Dow Jones & Company, L.P. All rights reserved. Participation in this ranking is by invitation only and limited to firms that meet the minimum eligibility requirements. About 200 firms were nominated, with 100 being ranked. Participating firms were evaluated and ranked on a wide range of quantitative and qualitative data, including assets overseen by the firm, revenue generated by the firm, level of technology spending, number of clients, size of staff, diversity across staff, and placement of a succession plan. The ranking may not be representative of any one client's experience, is not an endorsement, and is not indicative of the advisor's future performance. Neither Steward Partners nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron's is not affiliated with Steward Partners.

Investment News "2019 Top 50 Best Places to Work for Financial Advisers", April 2019. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two-part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 8 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. The award is not representative of any one client's experience, is not an endorsement, and is not indicative of advisor's future performance. Neither Steward Partners nor any of its Financial Advisors pay a fee in exchange for this award. Investment News and/or Best Companies Group is not affiliated with Steward Partners.

The 2020 Washington Business Journal BPTW honor is not awarded based on investment advisory services rendered. This ranking is not indicative of advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Steward Partners nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating.

Contacts

For Steward
Michaela Morales
JConnelly
(973) 224-7152
mmorales@jconnelly.com

For TPO
Bryan Locke
Sard Verbinnen & Co.
(203) 308-6950

SOURCE Steward Partners Global Advisory