Key Takeaways
- • Bain Capital Credit's Private Credit Group provided a senior credit facility as sole lender and administrative agent to support Audax Private Equity's strategic investment in Congress Wealth Management, a Boston-based independent registered investment advisor (RIA).
- • Congress Wealth Management manages over $5 billion in assets under management and serves approximately 2,300 high-net-worth individuals, foundations, endowments, and family office clients across seven U.S. offices since its 2009 founding.
- • Bain Capital Credit, a leading global credit specialist with approximately $43 billion in assets under management, structured the financing to support Congress's growth and value creation strategy, though specific facility terms and deal valuation remain undisclosed.
- • The transaction reflects continued institutional appetite for sponsorship of independent wealth management platforms positioned to capture growth in the fragmented U.S. wealth advisor market serving high-net-worth clients.
Summary
Bain Capital Credit announced on July 5, 2023, that its Private Credit Group acted as sole lender and administrative agent for a senior credit facility supporting Audax Private Equity's investment in Congress Wealth Management. Congress is an independent registered investment advisor headquartered in Boston that provides wealth management and investment advisory services to high-net-worth individuals, foundations, endowments, and family offices across the United States.
Founded in 2009, Congress has demonstrated strong momentum through organic client acquisition and strategic acquisitions. The firm currently manages over $5 billion in assets under management and maintains client relationships with approximately 2,300 high-net-worth and family office clients across seven offices nationwide. The company operates a tailored wealth management and financial planning platform designed for sophisticated investors seeking customized advisory services.
June Huang, Director at Bain Capital Credit, characterized Congress as "a high-quality RIA firm with a differentiated platform and unique value proposition," noting the business is positioned to capture growth opportunities within the diverse and fragmented U.S. wealth management market. Bain Capital Credit's decision to serve as sole lender underscores institutional confidence in Congress's market positioning and growth prospects under Audax's stewardship.
Bain Capital Credit, with approximately $43 billion in assets under management, is a leading global credit specialist investing across the credit spectrum. The firm's involvement reflects its strategic focus on sponsor-backed platforms in complementary financial services segments. While specific terms of the credit facility and transaction valuation were not disclosed, the financing structure was designed to support Congress's next phase of growth and value creation initiatives under Audax Private Equity's ownership.
Founded in 2009, Congress has demonstrated strong momentum through organic client acquisition and strategic acquisitions. The firm currently manages over $5 billion in assets under management and maintains client relationships with approximately 2,300 high-net-worth and family office clients across seven offices nationwide. The company operates a tailored wealth management and financial planning platform designed for sophisticated investors seeking customized advisory services.
June Huang, Director at Bain Capital Credit, characterized Congress as "a high-quality RIA firm with a differentiated platform and unique value proposition," noting the business is positioned to capture growth opportunities within the diverse and fragmented U.S. wealth management market. Bain Capital Credit's decision to serve as sole lender underscores institutional confidence in Congress's market positioning and growth prospects under Audax's stewardship.
Bain Capital Credit, with approximately $43 billion in assets under management, is a leading global credit specialist investing across the credit spectrum. The firm's involvement reflects its strategic focus on sponsor-backed platforms in complementary financial services segments. While specific terms of the credit facility and transaction valuation were not disclosed, the financing structure was designed to support Congress's next phase of growth and value creation initiatives under Audax Private Equity's ownership.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.