CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Rosemont, a private investor in employee-owned asset and wealth management firms, today announced a minority investment in Northside Capital Management, LLC, an outsourced investment manager for ultra-high net worth families. Headquartered in Hood River, Oregon, Northside had in excess of $5.2 billion in assets under management and advisement at the end of 2023.
Rosemont’s investment in Northside is a recapitalization intended to support the company’s stability and commitment to independence. As a minority investor, Rosemont will provide guidance on all aspects of the business, as well as enhanced governance.
“We carefully considered our choice of partner before selecting Rosemont,” said Jim DeWolfe, Managing Member and President of Northside. “In the end, we valued Rosemont’s industry expertise, its experience collaborating with firms like ours, and its permanent capital and minority orientation. Having Rosemont’s support ensures that our clients will continue to receive the same quality of advice and level of service indefinitely into the future.”
“Northside provides a distinctive offering to its client families,” said Brad Mook, Managing Director at Rosemont. “We appreciate Northside’s institutional-caliber investment and portfolio management capabilities along with the customization and tailored services their clients receive. We see increasing demand for these types of services from independent, conflict-free firms, and we are pleased to partner with Jim and his colleagues to sustain and enhance their efforts.”
This is the fourth permanent capital investment by Rosemont, which made twenty-six similar investments through private equity funds before converting to permanent capital investing six years ago.
Cozen O’Connor served as legal representative to Rosemont and Winston & Strawn served as legal representative to Northside. Terms of the transaction were not disclosed.
About Rosemont
Rosemont is a specialist investor exclusively focused on a select number of partnerships with high-quality, employee-owned asset and wealth management companies. Rosemont acquires permanent minority equity positions in support of management buyouts, recapitalizations, ownership transitions, and selected start-ups. In addition to its experience providing capital and employee-driven ownership solutions, Rosemont leverages its deep network and knowledge of the investment management industry developed through more than 35 years of advising and investing in asset and wealth management businesses. For more information visit rosemontinv.com.
About Northside Capital Management
Northside Capital Management, LLC serves as an outsourced investment manager for family offices, high-net-worth individuals, endowments, foundations, and tax-exempt entities. Founded in 1996, Northside is headquartered in Hood River, Oregon, and has offices in Ketchum, Idaho, and San Mateo, California. For more information visit www.northsidecap.com.
