Ares Management Purchases Minority Stake in EP Wealth 

Torrance, CA-based EP Wealth Advisors has agreed to sell a minority stake to asset manager Ares Management Private Equity funds. 

Ares Management’s equity stake in EP Wealth joins the RIA’s existing minority equity partner Berkshire Partners, the firm said. Berkshire Partners bought a minority stake in EP Wealth in 2020, and Wealth Partners Capital Group also purchased a stake in 2017. 

The investment will go towards boosting EP Wealth’s growth capital and support, as well as providing the firm with the resources to bolster its M&A activity, talent acquisition, technology, “client-facing” offerings, and services. 

Financial terms of the transaction, which is set to close this month, were not disclosed. 

Following the deal, EP Wealth’s co-founders Derek Holman and Brian Parker will continue a “meaningful ownership” with the firm and remain in their current roles as active advisors and leaders, EP Wealth said. 

EP Wealth’s management team will “continue to operate independently and lead strategic and day-to-day decisions.” 

Recently, EP Wealth added Chicago-based Rappaport Reiches Capital Management, which manages about $1.2 billion in assets under management and marked EP Wealth’s seventh acquisition for the year.  

EP Wealth has disclosed that it is “on track” to complete several more before the year concludes. The firm manages about $40 billion in client assets in 54 offices across 19 states.