Joe Duran’s Rise Growth Gets $250M Backing from Charlesbank

Rise Growth Partners, a financial partner for registered investment advisors launched by founder and former CEO of United Capital, Joe Duran, has received a $250 million backing from middle market private equity firm Charlesbank Capital Partners along with the Rise management team.

The firm plans to acquire “significant” minority stakes in select RIA firms. Once invested, it will provide them with growth capital, hands-on operational guidance, and acquisition expertise to fuel their growth.

Rise intends to announce its select group of initial partner RIAs over the course of 2024.

Rise said it will focus on acquiring stakes in “high growth” RIAs with assets under management ranging from approximately $1 billion to more than $5 billion.

“Joining forces with Charlesbank marks a significant milestone for our firm. Their team emphasizes integrity, collaboration, and excellence, all qualities that resonate deeply with our ethos. As we embark on this journey to transform the wealth management industry for the better, we’re confident we have the right capital partners in our corner,” said Duran, executive managing partner of Rise.

Rise’s value proposition will include advice on how to optimize operations, cultivate organic growth, and build a repeatable acquisition and/or recruiting process.

Alongside Duran, the leadership team consists of Darius Mirshahzadeh, executive managing partner; Terri Kallsen, managing partner and operating partner; Brian Shenson, managing partner and COO; and managing partners Mike Mirshahzadeh, Dan Newhall, and Phil Jacobson.

Based in Boston and New York, Charlesbank Capital Partners focuses on management-led buyouts and growth capital financings, as well as opportunistic credit and technology investments.