Pathstone secures investment from Lovell Minnick Partners
Summary
Under the terms of the transaction, Pathstone will remain independent and it will continue to be managed by its existing leadership team. Matt Fleissig, President of Pathstone, says: “We set out to build a truly modern family office powered by next generation technology and a culture of innovation or, as we like to say, an organization that is ‘smart in a way that matters.’ With our partnership with LMP, we continue our focus on investing financial and intellectual capital in further developing client solutions.” “We are excited to partner with Pathstone in their next stage of growth. As experienced investors in the wealth management industry, we greatly admire the business they have built and we embrace their multi-generational promise,” says Jim Minnick, Co-Chairman of LMP. “Pathstone has created a full service offering with a unique technology-enabled approach that we believe helps drive superior client service and operational efficiencies through automation.” Brad Armstrong, Partner of LMP, adds, “One of our reasons for investing in Pathstone is our shared commitment to incorporating Environmental, Social, and Governance (ESG) considerations in our investment criteria. Our new partnership with LMP is built on that unifying vision, and we couldn’t be more thrilled for the path ahead.” The transaction is expected to close at the end of the Fourth Quarter of this year.