Turnkey asset management platform provider GeoWealth says Goldman Sachs has acquired a minority stake in the firm via a $42.5 million investment, part of the TAMP's Series C financing. GeoWealth's family office owner, The Globe Resources Group, retains majority ownership of the TAMP, while Apollo, BlackRock, JPMorgan Asset Management and Kayne Anderson Capital Advisors remain minority investors.
GeoWealth started working with Goldman Sachs Asset Management in October 2024. The aim has been to help RIAs "build open-architecture custom models through a total portfolio solution further personalized by the RIA for the needs of their high-net-worth clients," according to the two firms.
With its latest funding, GeoWealth plans to keep enhancing its integrated technology platform by expanding its custom and public-private model capabilities, for instance, and investing further in product development and client service to assist advisors who want to "meet growing client demand for flexible investment solutions," it said Tuesday.
"We're pleased to welcome Goldman Sachs as a new investor and build on the strong partnership we've already established together," GeoWealth CEO Colin Falls said in a statement.
"We've been very intentional about maintaining the right balance of investors — anchored by a majority family office owner that gives us the freedom to build the company on our terms — while also partnering with some of the world's largest institutions that help us think strategically, grow thoughtfully and continue to innovate for our RIA partners," he said.
GeoWealth, based in Chicago, was founded in 2010.
The firm's technology lets advisors "seamlessly deliver customized portfolios combining public-private investment solutions at scale to their clients, and this need will continue to grow," said Bryon Lake, global co-head of Third Party Wealth and chief transformation officer at Goldman Sachs Asset Management, who is joining GeoWealth's board, in the statement.
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