Key Takeaways
- • Hightower Holding, the wealth management firm backed by THL, will acquire a majority interest in NEPC, LLC, a Boston-based investment consultant.
- • Coverage cites NEPC advising on more than $1.5 trillion in client assets, while Hightower brings roughly $156 billion in assets to the transaction, per reports on the deal.
- • The combination pairs NEPC's institutional investment consulting, research and outsourced CIO (OCIO) capabilities with Hightower's registered investment adviser platform.
- • The transaction was scheduled to close at the start of 2025, with one report describing the parent company as having $1.8 trillion in assets.
Summary
Hightower Holding, a Chicago-headquartered wealth management firm in which THL invests, announced that it will acquire a majority interest in NEPC, LLC, a Boston-based investment consultant. Hightower announced the transaction on October 22, 2024, and coverage from publications including Private Equity International and pehub.com reported the deal as a THL-backed acquisition.
According to the announcement and press coverage, NEPC is a leading institutional investment consultant and outsourced chief investment officer provider. Reports cite NEPC advising on more than $1.5 trillion in client assets. Hightower, which brings roughly $156 billion in assets to the deal, would combine NEPC's institutional investment, research and OCIO capabilities with its rapidly growing registered investment adviser platform. One report put the combined parent company at $1.8 trillion in assets.
The transaction was scheduled to close at the start of 2025. Commentary in the coverage suggested the deal could signal broader institutional interest in the consolidation of investment consulting and advisory capabilities, though the sources reviewed did not provide detailed financial terms or valuation.
According to the announcement and press coverage, NEPC is a leading institutional investment consultant and outsourced chief investment officer provider. Reports cite NEPC advising on more than $1.5 trillion in client assets. Hightower, which brings roughly $156 billion in assets to the deal, would combine NEPC's institutional investment, research and OCIO capabilities with its rapidly growing registered investment adviser platform. One report put the combined parent company at $1.8 trillion in assets.
The transaction was scheduled to close at the start of 2025. Commentary in the coverage suggested the deal could signal broader institutional interest in the consolidation of investment consulting and advisory capabilities, though the sources reviewed did not provide detailed financial terms or valuation.
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