
Parthenon-backed Choreo to Acquire RIA Enso Wealth Management for $1.8B
Choreo, an independent registered investment advisor based in Minneaoplis and backed by private equity firm Parthenon Capital Partners, will buy Enso Wealth Management, a California-based RIA firm, for approximately $1.8 billion.
The deal is expected to close by the end of the year.
This is the first acquisition for Choreo since becoming a standalone company in February, when Parthenon Capital acquired the wealth management arm of RSM, a top five accounting firm.
A team of 22 employees from Enso will add to Choreo’s existing base of 28 offices nationwide managing $13.5 billion in assets. Jim DeCota, Enso co-founder and president, will serve as managing director.
Barron’s listed Choreo as one of the country’s top 100 RIA firms for 2022.
