
Emigrant Partners Takes Minority Stake in $2.5B RIA Dakota Wealth Management
Emigrant Partners, an advisory firm working with wealth and asset managers, has made a minority, non-voting investment in Dakota Wealth Management, an independent investment management firm with over $2.5bn in assets under management across more than 1.700 clients.
Financial terms of the deal were not disclosed.
“At this stage of our development, we made a decision to take on a partner that could help us with our current and future capital needs as well as work closely with us to execute our strategic initiatives at a faster rate than we could on our own,” Peter Raimondi, CEO of Dakota, said.
Founded by Raimondi in 2018, and also led by Chief Strategic Officer Bryan Keller, the Palm Beach Gardens, FL-based Dakota has integrated seven acquisitions and executed several advisor tuck-ins since inception.
Emigrant Partners is partnered with 19 firms overseeing about $90 billion in aggregate assets under management and advisement. The business is owned by Emigrant Bank.
Colchester Partners served as Dakota’s exclusive financial advisor.
