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