Focus Financial Partners Inc. launched a secondary offering of 7 million shares of its Class A common stock (FOCS) priced at $48.00 a share.
Of the total, 6,536,327 shares are being offered by stockholders of Focus affiliated with Kohlberg Kravis Roberts and Stone Point Capital, and 463,673 shares are being offered by Focus on behalf of certain of the existing unitholders of Focus Financial Partners LLC, its operating subsidiary.
Focus said it intends to contribute the net proceeds from the secondary offering to its operating company in exchange for newly issued common units. Focus LLC will use the contributed amount to purchase units from certain Focus LLC unitholders, including employees and principals of its partner firms, but not Focus corporate executive officers and directors. In connection with the purchase, Focus said it will cancel the corresponding shares of its Class B common stock.
The offering will not have a dilutive impact on existing shareholders, the company said in a release.
Separately, Focus said it's made an investment in Prairie Capital Management, a hybrid firm based in Kansas City, Missouri, managing $5 billion. The transaction is expected to close in the second quarter.
Looking to refine your strategy for investing in stocks in the US market? Discover expert insights, key trends, and risk management techniques to maximize your returns
The RIA led by Merrill Lynch veteran John Thiel is helping its advisors take part in the growing trend toward fee-based annuities.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
