Fisher Investments Solidifies Partnership with Advent & ADIA
Deal News | Jan 07, 2025 | Advent International
Fisher Investments (FI) has confirmed the completion of a strategic minority investment from Advent International and the Abu Dhabi Investment Authority (ADIA). This $3 billion investment values FI at $12.75 billion and marks the first external investment in the firm, which had previously been owned solely by family and employees. The deal is part of Ken Fisher’s estate planning, ensuring FI's private independence and continuity of its culture. Ken Fisher, Founder and Executive Chairman, retains majority ownership and remains actively involved in FI’s operations. CEO Damian Ornani will continue to head the firm's day-to-day operations. The strategic partnership will see David Mussafer from Advent joining FI's board, promising robust future collaboration to expand FI’s business. J.P. Morgan Securities LLC, RBC Capital Markets, and law firms Paul Hastings, Ropes & Gray, and Gibson Dunn advised on the transaction. The investment signals a strong commitment to FI's long-term vision and excellence in client service, while illustrating the appeal of Advent's financial acumen and ADIA’s global investment reach.
Sectors
- Financial Services
- Private Equity
- Sovereign Wealth Fund
Geography
- United States – Fisher Investments is an American firm with a vast client base, including over 130,000 U.S. private clients.
- United Arab Emirates – The Abu Dhabi Investment Authority, one of the investors in Fisher Investments, is based in Abu Dhabi, UAE.
- Global – Advent International operates globally, and Fisher Investments serves a broad international client base, underscoring the deal's international dimensions.
Industry
- Financial Services – Fisher Investments is a prominent name within the financial services industry, managing significant assets for private and institutional clients globally.
- Private Equity – Advent International is a private equity firm that partners with businesses to provide investment, making it central to this transaction.
- Sovereign Wealth Fund – The Abu Dhabi Investment Authority is a sovereign wealth fund making strategic investments on behalf of the government of Abu Dhabi.
Financials
- 3 billion – The size of the minority investment made by Advent International and ADIA in Fisher Investments.
- 12.75 billion – The valuation of Fisher Investments following the investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fisher Investments | Target Company | Company | An independent investment adviser managing nearly $300 billion for clients globally. |
| Advent International | Investor | Company | A global private equity firm investing in businesses across various sectors. |
| Abu Dhabi Investment Authority | Investor | Company | A sovereign wealth fund of the UAE making long-term investments worldwide. |
| Ken Fisher | Executive Chairman and Co-Chief Investment Officer | Person | Founder of Fisher Investments, maintaining majority control after the investment. |
| Damian Ornani | CEO of Fisher Investments | Person | Oversees Fisher Investments' operations and business strategy. |
| David Mussafer | Board Member | Person | Managing Partner at Advent International, joining Fisher Investments' board. |
| Gabriela Weiss | Board Observer | Person | Principal at Advent International, serving as a board observer at Fisher Investments. |
| J.P. Morgan Securities LLC | Financial Advisor | Company | Served as a joint financial advisor to Fisher Investments. |
| RBC Capital Markets | Financial Advisor | Company | Served as a joint financial advisor to Fisher Investments. |
| Paul Hastings | Legal Advisor | Company | Served as legal advisor to Fisher Investments. |
| Ropes & Gray | Legal Advisor | Company | Served as legal advisor to Advent International. |
| Gibson Dunn | Legal Advisor | Company | Served as legal advisor to Abu Dhabi Investment Authority. |