Arax Investment Partners Acquires Cedrus Financial
Deal News | Jan 27, 2025 | Globenewswire
Arax Investment Partners, backed by RedBird Capital Partners, has acquired Cedrus Financial, a registered investment advisor (RIA) based in Littleton, Colorado. Cedrus manages approximately $1 billion in assets and offers wealth management and financial advisory services to high-net-worth families. The acquisition aligns with Arax's strategy of expanding its multi-boutique wealth management platform. Cedrus will become part of Arax Advisory Partners, focusing on providing specialized services to institutions, families, and athletes. Mark Neely, Managing Partner at Cedrus, highlights the benefits of joining Arax, including access to operational synergies and technological advancements. Haig Ariyan, CEO of Arax, praised Cedrus's unique and personalized client approach, which fits well with Arax's platform. Arax continues to expand by partnering with leading firms, leveraging RedBird's extensive network and experience in scaling wealth platforms.
Sectors
- Financial Services
- Private Equity
Geography
- United States – The acquisition involves United States-based companies, Arax Investment Partners headquartered in New York and Cedrus Financial based in Littleton, Colorado.
Industry
- Financial Services – The acquisition of Cedrus Financial by Arax Investment Partners involves two firms primarily operating in the financial services sector, providing wealth management and investment advisory.
- Private Equity – RedBird Capital Partners, the backer of Arax, is a private equity firm, highlighting the involvement of private investment in strategic acquisitions and development of portfolio platforms.
Financials
- $1 billion – Assets under management by Cedrus Financial.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Arax Investment Partners | Acquirer | Company | A multi-boutique wealth management platform expanding through strategic acquisitions. |
| Cedrus Financial | Target Company | Company | An RIA firm in Colorado offering wealth management services, with $1 billion in AUM. |
| RedBird Capital Partners | Backer/Investor | Company | A private investment firm supporting Arax Investment Partners, managing $10 billion in assets. |
| Mark Neely | Managing Partner at Cedrus | Person | Executive highlighting the strategic benefits of joining Arax. |
| Haig Ariyan | Chief Executive Officer of Arax | Person | CEO of Arax, emphasizing the alignment of Cedrus with Arax's growth strategy. |