Lovell Minnick Partners, the private equity firm, says it has made two investments in the wealth management industry — acquiring stakes of the RIA Americana Partners, a member of Dynasty Financial Partners' network, and Cohen & Co., a tax, business advisory and assurance firm.
"We are thrilled to partner with LMP," Americana CEO Jason Fertitta said in a statement. "We chose to work with LMP because of their extensive track record in accelerating growth for successful wealth management organizations, their deep bench of resources to support strategic acquisitions, and their underlying philosophy as partners and investors."
Founded in 2019, Americana Partners works with about $8.5 billion in assets under management, is based in Houston and has offices in Austin, Dallas and Midland — where it offers wealthy individuals in both the United States and Latin America advisory and family office services.
"Our investments are partnerships, and we are aligned with the Americana team's high-growth strategic vision," according to Trevor Rich, a Lovell Minnick partner. "We look forward to working together to expand geographically, attract the highest quality financial advisors, and execute on strategic initiatives."
Lovell Minnick is the first outside institutional investor in both Americana and Cohen & Co. Earlier, the private equity firm had stakes in AssetMark (2000-2006), H.D. Vest (2011-2015) and Mercer Advisors (2008-2015), among others. It currently is invested in Pathstone, the family office group, and London & Capital, the wealth and asset manager.
After the transaction closes, Americana's executives and staff will "continue to be significant owners of the business, and Americana will continue to be managed by its existing leadership team," the firm said.
Cohen & Co.
"Cohen & Company's vision for the future and its longstanding reputation as a premier accounting, tax and advisory firm make them an ideal partner," Jason Barg, partner at LMP, said in a news release.
