Joe Duran's Rise Growth Wins $250M Backing From New Capital Partner

Rise Growth Partners, the new firm led by United Capital founder and Goldman Sachs veteran Joe Duran, announced Thursday the signing of a $250 million funding commitment from Charlesbank Capital Partners, a middle-market private investment firm with offices in Boston and New York.

With the investment, Rise will seek to acquire “significant minority stakes” in select registered investment advisor firms, and once invested, Rise will provide them with ongoing growth capital, hands-on operational guidance and acquisition expertise to bolster their growth.

According to the announcement, Rise intends to reveal its select group of initial partner RIAs over the course of 2024.

In a recent interview with ThinkAdvisor, Duran, Rise’s co-founder and managing executive partner, said that, by taking minority stakes in its partner RIAs, Rise will be “bringing both wealth management expertise and financing to the party.” The objective is to triple or even quintuple the size of the RIAs, he said, and expand them into national firms.