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Case Study:

Focus Financial Partners

“Summit recognized the true potential of our vision from the start. Their investment gave us instant credibility when we launched Focus, and their continued support has helped us build the leading independent wealth management partnership in the U.S.”

Rajini Kodialam, Cofounder and Managing Director

Location:
New York, NY
Leadership:

Rudy Adolf
Founded in:
2006
invested in:
2006
Status:

Acquired by KKR and Stone Point Capital 2017
Case Study:

Focus Financial Partners

From a platform launched in 2006, Focus has grown into the leading international partnership of independent, fiduciary wealth management firms

Grew revenues to more than $500 million during Summit’s investment period

Added 40+ advisory firms in North America and the United Kingdom

Acquired by KKR and Stone Point Capital in 2017

Focus Financial Partners—a partnership of independent wealth management firms—was formed to capitalize on the continued growth of high-net-worth households, clients’ increasing interest in independent advice, and financial advisors’ expanding need for product and infrastructure assistance. Founders Rudy Adolf, Rajini Kodialam and Lenny Chang sought the experience and capital resources of Summit Partners to achieve their vision of building a platform to consolidate the fragmented wealth management industry.

How Summit helped:

  • Invested an initial $35 million to complete the formation of its group of founding partners, and finance future acquisitions
  • Helped assemble a world-class board of directors with significant experience in the financial services industry and in building acquisition platform companies
  • Recruited management team members, including a CFO
  • Helped expand banking relationships and grew senior credit facility to $400 million. Focus has since grown the facility to more than $1.0 billion.
  • Assisted in identifying and executing acquisitions, including negotiations with target firms
  • Supported the company through two additional rounds of financing

During Summit’s investment period, Focus Financial grew to become the leading international partnership of independent fiduciary wealth management firms, with more than 40 partner firms and affiliates in the United States and United Kingdom benefiting from the synergies, scale, economics and best practices achieved through being part of the Focus family.