Kestra Holdings has concluded its recapitalisation, with funds managed by private equity company Stone Point Capital concluding its majority stake acquisition in the firm.
Stone Point replaces Warburg Pincus as the majority owner, with the latter making its majority investment in 2019.
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Oak Hill Capital will retain its minority stake, while the Kestra Holdings management team, alongside a substantial number of Kestra-affiliated financial advisors and Bluespring-affiliated principals will maintain equity stakes in the company.
With this new financial backing, Kestra is expected to enhance its support for independent financial advisors by broadening its wealth management services and speeding up the acquisition of “top-tier” wealth management firms through Bluespring Wealth Partners.
Kestra Holdings CEO James Poer said: “Stone Point’s expertise and partnership previously helped accelerate our firm’s strategy of supporting successful wealth management businesses with full and deep value while focusing on the life cycle of their entrepreneurial efforts.
“With the support of Stone Point and our minority owner Oak Hill, we will continue strengthening that value proposition, scaling our platform and growing our expertise in serving and acquiring established wealth management firms seeking a monetisation path that respects their legacy.”
Kestra Holdings, as the parent company, oversees a range of subsidiaries that support financial professionals in delivering extensive securities, trust, and investment advisory services to their clientele.
Last month, Kestra Financial announced that John Amore, currently head of wealth management, is set to become the company’s president, starting April 2025.
Stephen Langlois, the outgoing president, is slated to retire by the end of 2025 but will stay on as a senior advisor until then to facilitate a seamless transition.
