KKR invests in RIA Beacon Pointe

Investment firm KKR has taken a minority stake in the parent company of Beacon Pointe Advisors, a Newport Beach, California-based registered investment adviser that manages more than $20 billion.

Beacon Pointe’s management, led by CEO Shannon Eusey, will continue to own more than 50% of the firm.

Terms of the transaction, which also will result in the exit of investor Abry Partners, were not disclosed.

The investment by KKR will provide Beacon Pointe with capital to support its national expansion efforts through office openings and acquisitions, the company said in a statement. The money also will fund investment in technology, personnel and employees’ professional growth, and the creation of a Beacon Pointe charitable fund.

“With the support of KKR’s deep experience and resources, Beacon Pointe will have the opportunity to further invest in the business and continue to expand our footprint across the nation,” Eusey said in the statement.

The post KKR invests in RIA Beacon Pointe 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.
%d bloggers like this: