119th Street Capital Backs $470M Maridea Wealth Management’s Expansion 

119th Street Capital, a private investment firm focused on financial services, has made a strategic investment in Maridea Wealth Management. The partnership will support Maridea’s fund acquisitions, strategic partnerships, and national expansion, reinforcing its commitment to delivering top-tier advisory services to clients across the United States. 

Founded by former hedge fund manager and investment banker Mier Wang, Maridea manages approximately $470 million in client assets. Its seven-member leadership team includes senior advisors Larry Koehler, formerly VC at HighTower Advisors, and Dan Lidawer, co-founder and COO at Cresset Wealth Advisors. 

“Maridea, with its relationship based & people-first culture, perfectly aligns with 119th Street Capital’s investment philosophy,” said Anthony Contrucci, managing partner at 119th Street Capital. “We believe in their vision and are excited to partner with Pelican to support Maridea’s continued growth.” 

119th Street Capital, headquartered in Merrillville, IN, focuses on privately owned financial services firms and is a wholly owned subsidiary of First Bancshares Inc. Pelican Capital, a New York-based financial and business services investment firm, co-invested in the deal. 

The investment reflects ongoing private equity interest in RIAs, as highlighted in DeVoe & Company’s latest RIA deal book, which reported that private equity-backed consolidators led a record-setting first quarter for deals. 

Maridea, a subsidiary of Maridea Global Capital Management, has acquired RIAs with offices in New Jersey and Texas and continues to invest in advisors managing under $1 billion in AUM, fueling its growth and market presence.