Ropes & Gray has represented Steward Partners, an employee-owned independent financial services firm specializing in comprehensive wealth management solutions, in raising $475 million strategic capital from Ares Credit funds (“Ares”), comprising a significant expansion of its lending relationship and a non-controlling minority investment. Ares joins Steward Partners' existing institutional partners, Cynosure Group ("Cynosure") and The Pritzker Organization ("TPO"), in backing the firm. Strategic direction and day-to-day decision-making remain with Steward Partners' leadership and partners. The transaction was announced on Dec. 18 in a press release.
The team was led by finance partner Arek Maczka and included private equity senior attorney Graham David Foster and partner Taylor Hart, tax partner Adam Greenwood, executive compensation & employee benefits partner Kyle Higley, and asset management partner Brynn Rail.
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