Rosemont sells stake in Clearstead, completing final stage of recapitalization investment


CONSHOHOCKEN, Pa .– (COMMERCIAL THREAD) – Rosemont, a private investor in employee-owned asset and wealth management companies, announces that it has entered into a definitive agreement, subject to regulatory approval, to sell Rosemont Partners III, the stake LP’s minority interest in Clearstead at Flexpoint Ford.

Rosemont’s investment in Clearstead in 2017 was instrumental in accelerating a capital succession plan, rebranding and profitable growth. Over the course of the four-year investment, Clearstead achieved more than $ 10 billion in AAU growth, expanded employee share ownership, made three acquisitions and made several key hires. Clearstead has also steadily expanded and improved its service offering, investment capabilities and operating infrastructure.

“Our relationship with Rosemont was more than a financial deal,” said Dave Fulton, CEO of Clearstead. “Their partnership, relationships with industry, networks and decades of industry experience have been invaluable to us. With their support and guidance, our business is now positioned for the next decade of growth and success. ”

Clearstead is an institutional and private client advisory firm with approximately $ 29.2 billion in assets under management and advisory as of June 30, 2021. It builds globally diversified portfolios for individuals, families, foundations and endowments since 1987, and has built a first-class reputation for comprehensive wealth management for its clients.

“Clearstead has grown into one of the nation’s leading investment advisory and wealth management firms,” said Brad Mook, CEO of Rosemont. “She is well structured and positioned to continue to grow and serve her clients to a very high level, and we are proud to have helped her as a strategic partner over the past four years. We would have happily continued as a Clearstead partner indefinitely without our legacy private equity fund structure. ”

Although Rosemont has moved to a permanent capital investment structure, the transaction represents the third achievement for Rosemont Partners III, LP in 2021. It is subject to regulatory approval and is expected to close in the fourth quarter of 2021.

Colchester Partners LLC, an investment bank and mergers and acquisitions advisory firm focused on the investment management industry, served as financial advisor to Clearstead Advisors.

About Rosemont

Rosemont is a specialist minority equity investor focused exclusively on a number of partnerships with high quality employee-owned asset and wealth management companies. Rosemont acquires minority stakes in support of business buyouts, recapitalizations, ownership transitions and certain start-ups. In addition to its experience in providing employee-focused capital and share ownership solutions, Rosemont leverages its extensive network and knowledge of the investment management industry developed over more than 30 years of advice and investment in asset and wealth management companies. For more information, visit www.rosemontinv.com.

About Clearstead

Clearstead Advisors, LLC is a private client and institutional financial advisory firm located in Cleveland, Ohio. The firm advises more than $ 29 billion for endowments and foundations, retirement funds, healthcare organizations and individuals, families and related entities. Clearstead employs more than 100 professionals, 37 of whom are shareholders of the company.


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