Seller Details:
NEPC is a Boston-based global investment consultant, private wealth advisor and OCIO provider serving over 400 retainer clients and more than $1.66 trillion in total assets.
Buyer Details:
Hightower is a Chicago-based wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations.
Transaction Summary:
Hightower Holding will acquire a majority interest in NEPC, a leading investment consultant and OCIO. Combining under a common parent company will allow each organization, NEPC and Hightower Advisors (“Hightower”), one of the country’s leading RIAs, to expand their commitments to clients to deliver institutional-quality investment solutions and research-driven advice. The combination of Hightower, its affiliates and NEPC represents over $1.8 trillion in AUA and $258 billion in AUM.
As more private wealth investors express interest in allocations to private market investments, NEPC’s institutional research and investment capabilities will bolster Hightower’s existing set of wealth management solutions for its advisors and their clients. NEPC’s clients will continue to receive investment advisory and OCIO services while creating a new growth channel in partnership with Hightower. A combined Hightower and NEPC strategically positions both firms across their target markets and adds scale and resilience.