Hamilton Lane has acquired an interest in Savant Wealth Management through a continuation vehicle structure from Cynosure Partners and Kelso & Company for $270 million. The deal provides liquidity to Cynosure's original limited partners while supporting the next phase of growth for Savant, which is one of the largest independent registered investment advisors (RIA) in the United States with over $57 billion in assets under management.
| Acquirer | Hamilton Lane |
|---|---|
| Target | Cynosure Partners and Kelso & Company |
| Deal Value | $270m |
| Type | LBO |
| Close Date | Not Disclosed |
| Advisors | Campbell Lutyens (Buy-side), Ropes & Gray (Legal Buy-Side) |
Deal Mechanics
The continuation vehicle transaction is designed to facilitate a liquidity event for Cynosure's original limited partners in Savant Wealth Management, while also attracting new capital from Hamilton Lane. This move solidifies the path forward for both Savant and its strategic investors.
Strategic Rationale
This investment aligns with Hamilton Lane’s strategy of investing in high-quality businesses within the wealth management sector that offer significant growth potential. Keith Taylor, Co-Founder and Managing Director at Cynosure Partners, highlighted the importance of this transaction as a milestone for both Savant and its founders.
The deal underscores Cynosure's commitment to supporting Savant’s long-term vision through continued involvement alongside new partners from Hamilton Lane. Additionally, it reflects Kelso & Company's ongoing support and belief in the company’s future prospects.
Financial Context
Savant Wealth Management operates as a fee-only advisory service with extensive reach across 70 offices nationwide, serving more than 25,000 clients. The firm has seen substantial growth since Cynosure's initial investment over ten years ago, now managing assets in excess of $57 billion.
Advisors
The buy-side financial advisor to Hamilton Lane was Campbell Lutyens, while legal counsel came from Ropes & Gray. Sell-side advisors and their legal representation were not disclosed.
Outlook
This transaction represents a strategic realignment of capital for Savant Wealth Management as it enters its next growth phase. The partnership with Hamilton Lane is expected to bring additional resources, expertise, and commitment to the firm’s ongoing success in the fast-evolving wealth management landscape.