Rollup firm Focus Financial Partners said it is getting two new heavyweight private-equity investors: Stone Point Capital and KKR, which value the RIA aggregator at about $2 billion.
Investors selling their holdings of Focus include Centerbridge Partners, Summit Partners and Polaris Partners, as well as some advisors and staff. According to the firm, this is the third significant move to raise capital since 2013.
"Stone Point and KKR are highly regarded investors who support entrepreneurs in the financial services industry," said founder and CEO Rudy Adolf, in a statement.
"We are committed to being the best partner to entrepreneurial wealth management firms throughout the U.S. and across the globe, and we remain committed to creating value for all of our shareholders, including our clients, partner firms and affiliates, and employees," Adolf explained.
In August, news reports circulated that New York-based Focus had filed to go public with a $1 billion valuation. The firm said at the time it had roughly $400 million in yearly revenues.
