Savant sells minority stake to Kelso & Co.

Savant Wealth Management, a Rockford, Illinois-based registered investment adviser that oversees almost $12 billion in assets, said a private investment firm, Kelso & Co., has taken a minority stake in Savant that will give the firm capital to bolster its acquisitions and organic growth strategy.

Two Kelso partners, Chris Collins and Steve Dutton, will join Savant’s board, but the firm’s current management team will remain in place, with CEO Brent Brodeski retaining full control.

All current stakeholders in Savant, including founding employees, board members, family offices and other outside stakeholders who invested in Savant in 2016, retain their investments, and 16 more employees have become investors in the firm.

“As we looked to build on our momentum and enter our next phase of growth, we sought a partner who not only could provide a strategic capital infusion, but whose approach, values and interests were a strong match,” Brodeski said.

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The post Savant sells minority stake to Kelso & Co. appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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