Advent International and a unit of the Abu Dhabi Investment Authority have completed their $3 billion minority investment in Ken Fisher’s namesake firm, Fisher Investments.
The common stock investment by Advent and ADIA was first reported in June. The $3 billion investment values Fisher Investments at $12.75 billion, according to the announcement of the deal’s closing.
The investment in common shares includes neither options nor non-common stock preferences and includes proportional voting to the investors’ beneficial ownership in Fisher Investments.
Stakeholders have portrayed the transaction as part of Ken Fisher’s long-term estate plan rather than an immediate strategy or leadership transition, noting that the firm’s founder retains 70% of its voting shares and will continue in his current role as executive chairman and co-chief investment officer.
Likewise, CEO Damian Ornani continues to lead day-to-day operations and business strategy.
In connection with the investment, David Mussafer, a managing partner at Advent, has joined the firm's board of directors. Gabriela Weiss, a principal at Advent, has joined as a board observer.
As of year-end 2024, Fisher Investments managed nearly $300 billion for over 170,000 clients globally, including over 130,000 U.S. private clients and 200 large institutional clients.
“While my health is excellent, this transaction is aimed dually at long-term estate tax and planning purposes should anything untoward happen to me,” Fisher said in a statement. “Advent and ADIA are truly exceptional partners who value us operationally and culturally, and are committed to preserving what differentiates FI in our industry.”
Pictured: Ken Fisher
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