Grimes: New Partnership Fuels Expansion with Rise Growth Partners
Deal News | Feb 19, 2025 | Charlesbank Capital
Rise Growth Partners, supported by Charlesbank Capital Partners, has made its second strategic minority investment by backing Grimes & Company, a wealth management firm with approximately $5.7 billion in assets under management. This partnership aims to bolster Grimes' geographic presence and refine its centralized planning process, attracting growth-focused advisor teams. Grimes, recognized for its personalized investment management, serves around 3,000 households across several states. The collaboration will allow the firm to maintain its independence while enhancing its resources and client service capabilities.
Sectors
- Wealth Management
- Private Equity
Geography
- United States – The article is centered around Grimes & Company, which operates in the U.S. with presence across several states including Massachusetts, Texas, Florida, and Nebraska.
Industry
- Wealth Management – The article discusses the investment in and growth of Grimes & Company, a wealth management firm, highlighting this sector's focus on investment strategies and client management.
- Private Equity – Rise Growth Partners, backed by Charlesbank Capital Partners, represents private equity's role in supporting the strategic growth of companies like Grimes & Company.
Financials
- $5.7 billion – The assets under management (AUM) of Grimes & Company.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rise Growth Partners | Investor | Company | A wealth management industry partner aiming to support growth-oriented RIAs, backed by Charlesbank Capital Partners. |
| Grimes & Company, LLC | Target Company | Company | A family-owned, full-service wealth management firm with $5.7 billion in AUM, serving approximately 3,000 households. |
| Charlesbank Capital Partners | Backer | Company | A private equity firm providing strategic investment support to Rise Growth Partners in their investment endeavors. |
| Kevin Grimes | CEO and Chief Investment Officer | Person | The current leader of Grimes & Company, overseeing its expansion and strategic direction. |
| Joe Duran | Managing Partner | Person | A leader at Rise Growth Partners, managing the partnership with Grimes & Company. |
| Terri Kallsen | Managing Partner | Person | A managing partner at Rise, highlighting the strategic vision for the partnership with Grimes. |