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August 22, 2023 at 02:50 PM
Joe Duran is looking to make a return to the RIA sector in the near future, after stepping down early this year as a Goldman Sachs partner and co-head of its Personal Financial Management Group.
But precisely what kind of RIA business Duran is looking to either buy or start remained unclear on Tuesday.
Citing “sources with knowledge of the situation,” Citywire reported Aug. 17 that Duran was raising capital for a new business that will look to take minority stakes in RIAs and investment banker Brad Siegert of Ardea Partners was assisting in the fundraising effort.
Duran posted a link to the story on his LinkedIn account, saying: “I’m not sure this is newsworthy, but hopefully one day it might be.”
A spokesman for Duran told ThinkAdvisor on Tuesday: “Joe is considering his options. Nothing has been decided and until it has it is very premature to discuss hypotheticals.”
The spokesman added that Duran “has no formal relationships with any PE firms or investment bankers at present.”
