Private equity firm Estancia Capital Partners LP is investing in Snowden Capital Advisors LLC.
Snowden Capital, headquartered in New York, is an advisory firm that provides wealth advisory services. Terms of the deal were not disclosed.
The company plans to use the investment to recruit additional financial adviser partners in California, Connecticut and New York, and possibly in new markets.
The Scottsdale, Ariz.-based PE firm focuses on lower middle-market investments in asset management, wealth management and business services firms. Estancia’s portfolio companies include Equinoxe Alternative Investment Services, Spruce Private Investors LLC and Sustainable Growth Advisers.
Sandler O’Neill & Partners LP served as Snowden’s financial adviser for the deal.