Genstar Capital, a private equity firm, has recapitalized Cerity Partners, a wealth management firm. Lightyear Capital has been an investor in Cerity Partners since 2017 and will continue to be an investor in the firm.
Cerity Partners serve more than 10,000 clients and advise on approximately $50 billion in assets.
Kurt Miscinski, CEO of Cerity Partners, said, “Our partnership with Genstar Capital allows us to continue enhancing value to our clients, colleagues, and communities, as well as accelerating the development of our vision for becoming a first-of-its-kind global professional services firm in wealth management.”
Raymond James and Davis Polk & Wardwell served as advisors to Cerity Partners. Jefferies provided advice to certain funds affiliated with Lightyear Capital. Goldman Sachs and Willkie Farr & Gallagher served as advisors to Genstar Capital.