PRESS RELEASE

9/30/22

 

Kestra Holdings Announces Recapitalization as Oak Hill Capital Joins Partnership Alongside Warburg Pincus

 

As head of new division, Kestra Investment Management, Murphy will provide dedicated, hands-on support to financial professionals across the Kestra Holdings ecosystem

 

AUSTIN, Texas--Kestra Holdings, an industry-leading wealth management platform, today announced the recapitalization of its parent partnership as Oak Hill Capital takes over the minority equity position held by funds managed by Stone Point Capital, a partner of the firm since 2016. Warburg Pincus will remain the majority investor as it has been since 2019.

“James and his team have built a terrific business in the wealth ecosystem with a compelling value proposition. We are excited to partner with both Kestra and Warburg and look forward to helping the platform accelerate.”

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“Our ability to partner with industry leading financial professionals and the strength of our business allows us to attract world class capital partners who want to be part of our growth. The longstanding relationship with Warburg Pincus and the addition of Oak Hill Capital allows us to continue to scale our platform, invest in our team and bring new capabilities to financial professionals and the clients they serve,” commented James Poer, CEO of Kestra Holdings. “We also want to recognize that for the last six years Stone Point has been an integral part of our success and an outstanding capital partner in support of our growth.”

Nico Theofanidis, Principal of Oak Hill, commented, “James and his team have built a terrific business in the wealth ecosystem with a compelling value proposition. We are excited to partner with both Kestra and Warburg and look forward to helping the platform accelerate.”

Founded in 1997, Kestra Holdings companies collectively oversee $122 billion in assets under administration (AUA) and support more than 2,400 independent financial professionals across the country. The company is focused on supporting its financial professionals with best-in-class wealth management tools and driving a culture of connectivity that empowers advisor success.

“Kestra has built an industry-leading wealth management organization, uniquely focused on empowering the success of their financial professionals. We are excited to continue to support Kestra, in partnership with Oak Hill Capital, as the company continues to evaluate strategic opportunities to serve their large and growing customer base,” said Michael Martin, Managing Director, Head of Financial Services, Warburg Pincus.

Lauren Seidman, Managing Director, Stone Point Capital shared, "We have greatly valued our partnership with Kestra Financial, its exceptional management team and best-in-class financial professionals. We look forward to watching the company’s continued growth and success."

The company's strong growth is clear: Kestra Financial and Kestra Private Wealth Services together added more than 50 financial professionals and recorded $4.1 billion in new recruitment assets from January through June of 2022.

Bluespring Wealth Partners, the acquisition arm of the company, has 26 wealth management firms through 2022 and has been able to attract industry-leading talent to support the firm’s growth strategy. David Canter, a well-known industry executive, joined as president to lead the firm earlier this year.

In addition to Kestra Financial and Bluespring, Kestra continues to invest in the growth of its trust platform, Arden Trust Company, and the wealth management platform, Grove Point Financial.

Earlier this year, the company launched Kestra Investment Management, which will provide portfolio management services through Kestra Financial, Grove Point, Arden Trust and Bluespring Wealth Partners companies.


About Kestra Holdings

Kestra Holdings offers industry-leading wealth management platforms for independent wealth management professionals nationwide. With an innovative culture that celebrates independence, the company seeks to redefine the future of the advisory industry through superior service, cutting-edge technology, and preeminent resources that every financial professional needs to succeed in the market now and in the years to come.

Kestra Holdings companies collectively oversee $122 billion in assets under administration (AUA) and support more than 2,400 independent financial professionals across the country in delivering comprehensive securities, trust, and investment advisory services to their clients.

Kestra Holdings is the direct or indirect parent company of Arden Trust Company, Bluespring Wealth Partners, LLC (including its investment adviser and wealth management firm subsidiaries), Kestra Investment Services, LLC, member FINRA/SIPC, Grove Point Investments, LLC, member FINRA/SIPC, as well as Kestra Advisory Services, LLC, Kestra Private Wealth Services, LLC, Grove Point Advisors, LLC, and Kestra Institutional Services, LLC, all federally registered investment advisers.

Contacts

Gregory FCA for Kestra Holdings
Haley Rosa 610-228-2805
kestra@gregoryfca.com