GeoWealth and Apollo form strategic partnership to transform how private market funds are integrated into model portfolios for the RIA community

GeoWealth, a proprietary technology and turnkey asset management platform (TAMP), announced that it has raised a $38 million Series C funding round led by Apollo. In tandem, GeoWealth and Apollo have formed a strategic partnership to expand access to customizable public-private model portfolios for registered investment advisors (RIAs).

The previously announced investment from BlackRock, J.P. Morgan Asset Management and Kayne Anderson Capital Advisors (sub-advised by Composition Capital) is included in the Series C funding total. The strategic partnership between GeoWealth and Apollo will combine GeoWealth’s unified managed account (UMA) technology, powered by its proprietary portfolio management software, with Apollo’s private markets building blocks to help clients construct more efficient and robust multi-asset portfolios.

“With Apollo joining as a strategic investor and partner, we’re accelerating our commitment to building unified public-private model portfolios and supporting advisors with the flexible technology, investment choice and resources they need to deliver customized solutions,” said Colin Falls, Chief Executive Officer of GeoWealth. “Advisors are seeking turnkey access to private markets, and our tech-enabled implementation platform will allow them to run a models-based practice with the flexibility and breadth to meet complex client needs.”

“Investors are increasingly looking beyond public markets for greater diversification and differentiated returns. To meet this demand, Apollo is deeply committed to expanding access to institutional-quality private markets solutions and backing leading technologies reducing friction from the process,” said Stephanie Drescher, Partner and Chief Client and Product Development Officer at Apollo. “Together with GeoWealth, we are working towards empowering RIAs to build modern portfolios that integrate public and private strategies for their clients.”

With this capital infusion, GeoWealth plans to expand its public-private model capabilities, investing in product development and human capital to help advisors meet growing client demand for a broader range of asset types in a UMA. The funding will primarily accelerate innovation in GeoWealth’s UMA capabilities, while also strengthening the core technology foundation for its next phase of growth. As part of the use of proceeds in this round, GeoWealth has also completed the acquisition of the TAMP assets from Freedom Advisors.

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Apollo. Baker & McKenzie LLP and Depew Gillen Rathbun & McInteer, LC served as legal counsel to GeoWealth.

Source: GeoWealth