Private equity fund Estancia Capital Partners has closed on its strategic growth capital investment in Snowden Capital Advisors.
Snowden represents Estancia’s fourth investment from its inaugural fund Estancia Capital Partners, L.P. Terms of the investment have not been disclosed.
Snowden is a nationally branded, open-architecture, hybrid SEC registered investment adviser and broker-dealer that provides wealth advisory services to individuals, families, and institutional clients. Snowden will use the invested capital to continue recruiting exceptional financial advisory teams in selected markets. Snowden is headquartered in New York City and currently has additional offices in California and Connecticut.
“Estancia continues to execute on its plan of investing in leading asset management, wealth management and related business services companies positioned to capitalise on positive industry secular trends. We believe Snowden has one of the most experienced management teams in the wealth management space providing the expertise and insight to take advantage of the financial advisor movement toward independence, investors’ desire for higher fiduciary standards and conflict-free advice, and the strong cultural implications of advisors owning meaningful equity in their business that creates better alignment among clients, advisors, management and other stakeholders,” says Takashi Moriuchi, a partner at Estancia.