Emigrant takes stake in Pure Financial Partners
The $2.4 billion RIA will use the funds for growth and acquisitions
Emigrant Partners, the private equity arm of New York Private Bank & Trust, has made a minority investment in Pure Financial Advisors, a California-based registered investment advisory firm managing more than $2.4 billion. The amount of the transaction was not disclosed.
The transaction will provide Pure, which has offices in San Diego, Orange County and Los Angeles, with access to capital for organic growth initiatives and reinvestment in the company, and M&A support for future acquisitions, Emigrant said in a release.
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