January 5, 2021
Chicago-based Hightower has acquired Bel Air Investment Advisors LLC from Fiera Capital Corporation for an undisclosed sum. The deal for Bel Air, with US$8 billion in assets under management, returns Los Angeles-based Bel Air to private ownership and represents Hightower’s largest acquisition in its 12-year history.
“Bel Air is a successful, multi-generational wealth management business led by a group of highly talented and experienced advisors,” said Bob Oros, CEO of Hightower. “We are honored to be welcoming Bel Air to Hightower and look forward to collaborating with the team and providing access to our strategic consulting services.”
Including Bel Air, which specializes in the ultra-high-net-worth segment of the private wealth market, Hightower’s M&A team has completed 14 transactions since early 2019. As of Sept. 30, 2020, Hightower’s assets under administration were approximately $81.4 billion and its AUM was $61.6 billion.
Pictured: Hightower headquarters in downtown Chicago.
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