Hybrid RIA Concurrent Investment Advisors on Wednesday formally rolled out its own RIA minority investing vehicle, RIA Capital Partners, and revealed the arm’s initial pair of investments.
Concurrent chief executive Nate Lenz told Citywire the new venture largely came about in response to the growing prevalence of minority investment vehicles in the RIA space in recent years. He added the firm is mainly targeting wealth management practices in the $200m to $500m AUM range.
‘What we found in talking to a lot of independent RIAs is that they want a way to access capital, whether it’s to de-risk, facilitate succession, fund the next chapter of growth,’ Lenz said. ‘And they like doing it in that minority, non-control model, but they may not be big enough to attract the attention of a more traditional minority investor.’
