Private Equity Firm Buys A Piece Of $4 Billion Houston RIA

Thursday, September 01, 2011 07:57
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Private Equity Firm Buys A Piece Of $4 Billion Houston RIA

Tags: registered investment advisors

Houston-based Avalon Advisors has picked up a fresh investment from the Carlyle Group in order to expand its service platform and, ideally, its client base as well.

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The size of Carlyle's investment in Avalon is not being disclosed, but given the fund's size and other holdings in the financial services industry could be as high as the $100 million range.

 

Avalon's current strategic investor Platform Partners is treating the deal as an opportunity to inject more money into the company as well.

 

While Avalon is a massive player in the RIA industry with its $4 billion in AUM, its investment platform seems relatively simple: blue-chip stocks and a few iShares ETFs.

 

Given the firm's "focused expansion plans," we will have to watch whether it uses its new cash to absorb a rival in the Southwest or elsewhere in the nation.

 

 

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