Penfund Announces US$75 Million Investment in Mariner Wealth Advisors
Summary
Proceeds from the transaction will be used to fund Mariner’s acquisition pipeline and for general corporate purposes. Mariner is a Registered Investment Advisor (“RIA”) founded in 2006 and headquartered in Overland Park, Kansas with operations in 61 locations across 30 states. We have been looking for opportunities in the RIA industry for more than 18 months as we believe the sector has very attractive fundamentals that are well aligned with Penfund’s broader investment mandate. We believe Mariner is a top-tier RIA and we are happy to be partnering with Mariner and Leonard Green in making our first investment in the sector.” Leonard Green is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $50 billion of assets under management. Penfund is a leading provider of junior capital to middle market companies throughout North America.