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Financial Advisory  + Wealth Management  |  April 9, 2025
State Street Leads $64M Raise for Asset Management Platform Ethic has raised nearly $163M since 2015 inception State Street Global Advisors (SSGA), the asset management division of State Street Corporation, is spearheading a $64 million Series D equity investment in Ethic, a technology-driven asset management platform. Alongside this financial commitment, SSGA has forged a strategic partnership with Ethic aimed at delivering innovative and personalized investment solutions. This collaboration will focus on developing customized separately managed accounts (SMAs), model portfolios, and unified managed accounts (UMAs) to address the increasing demand for tailored, values-driven, and tax-efficient investment options. The new investment raises Ethic's total capital to nearly $163 million since its inception in 2015. “We see our role as empowering intermediaries to help their clients invest in the future that they want to see,” said Doug Scott, CEO and co-founder at Ethic. Ethic's most recent Form ADV indicates that the firm oversees nearly $6 billion in client assets. Its assets under management have consistently increased, exceeding $2 billion by late 2022, after crossing the $1 billion mark in June 2021. “This new partnership underscores our broader commitment to meeting the growing demand for customized portfolios,” added Yie-Hsin Hung, CEO of State Street Global Advisors. SSGA, the fourth largest asset manager in the world, manages $4.72 trillion in assets.
Joe Palmisano
By: Joe Palmisano

State Street Leads $64M Raise for Asset Management Platform

State Street Global Advisors (SSGA), the asset management division of State Street Corporation, is spearheading a $64 million Series D equity investment in Ethic, a technology-driven asset management platform. Alongside this financial commitment, SSGA has forged a strategic partnership with Ethic aimed at delivering innovative and personalized investment solutions.

This collaboration will focus on developing customized separately managed accounts (SMAs), model portfolios, and unified managed accounts (UMAs) to address the increasing demand for tailored, values-driven, and tax-efficient investment options.

The new investment raises Ethic’s total capital to nearly $163 million since its inception in 2015. “We see our role as empowering intermediaries to help their clients invest in the future that they want to see,” said Doug Scott, CEO and co-founder at Ethic.

Ethic’s most recent Form ADV indicates that the firm oversees nearly $6 billion in client assets. Its assets under management have consistently increased, exceeding $2 billion by late 2022, after crossing the $1 billion mark in June 2021.

“This new partnership underscores our broader commitment to meeting the growing demand for customized portfolios,” added Yie-Hsin Hung, CEO of State Street Global Advisors.

SSGA, the fourth largest asset manager in the world, manages $4.72 trillion in assets.

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State Street Global AdvisorsEthic

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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