Brownhelm Capital, a family office based in Cleveland, Ohio, has taken a substantional ownership stake in Pecunia Management, the holding company for International Assets Advisory, Primus, International Assets Investment Management and Global Assets Advisory.
With this deal, the entire management team will remain intact with Ed Cofrancesco as CEO of Pecunia and all of its operating entities. Going forward, IAA will remain an independently operating organization with its own brand, executive management team and operational identity. The partnership looks to give IAA improved access to growth capital to invest in additional products and services to help the firm’s advisors build their businesses.
“IAA is a great company and we look forward to working with Ed and his outstanding management team to continue to grow the business and present new opportunities and additional support to IAA’s network of advisors,” says Max Weber, director of investment strategy for Brownhelm Capital.