Hightower Consolidates Teams Under Signature Wealth Division, Disruptive Names New CFO, and Wealth Enhancement Makes Multiple Deals in the latest edition...
Take a Lap Around the Industry 🏃
Wall Street’s Peace Trade Collides With Renewed Iran Fighting (WSJ)
Potomac Financial Group Partners with Concurrent to Launch Independent RIA (Businesswire)
Goldman’s RIA Custody Making Gains on Name Recognition, UHNW Focus(WealthManagement.com)
Apple to Spend $30 Billion on U.S.-Made Chips From Broadcom (WSJ)
Family Office Deal Tracker
Higharc, a homebuilding AI platform, has raised $95M in a Series C round with backing from Penny Pritzker's family office, PSP Partners
In a Series A round, Venice.ai has raised $65M with support from Morgan Creek Capital Management to construct its own data center infrastructure
Grok Ventures has participated in a $20M Series A round for MAKO, and Australian aerospace company working to increase aircraft fuel efficiency
Quantifind, a firm that leverages AI to search for financial crime, has closed a $200M growth investment round with participation from Stephens Group
Bringing in a total of $1.3B, Wealth Enhancement has brought on two teams from Shufro Rose, Shufro-Glass Group and Kaminsky-Silverman Group (WealthManagement.com)
$1.3B Michigan-based CWS Financial Advisors has been bought by PE-backed Aspen Standard Wealth (Citywire)
Resource Financial Group, an Illinois-based firm managing $700M in AUM, has been acquired by Choreo (WealthManagement.com)
Wealth Enhancement has acquired WealthShield Partners in North Carolina, bringing in roughly $1.3B in assets (Citywire)
Hightower has merged three affiliate firms—Private Vista, Hightower Great Lakes, and McGuirk & De Nevi Group—into Hightower Signature Wealth, adding $5 billion in AUM, 40 employees, and six offices.
The integrations bring Signature Wealth to approximately $35 billion in client assets, 140 advisors, and more than 40 office locations, with $25 billion of that growth occurring in 2026
Signature Wealth is Hightower's unified client-facing platform, which was launched in 2025 following the additions of Journey Strategic Wealth in March and Lexington Wealth Management in April
Hightower now oversees $353.7 billion in assets across 648 advisors and plans to continue merging more teams into its Signature Wealth division
Joining from JP Morgan, Eric Rabinowitz has been named Managing Director in the Healthcare Investment Banking Group for Evercore (Businesswire)
Philip Youn,previously at Bank of America, has joined Ducera Partners as Managing Director for the firm's M&A division (Businesswire)
Former Managing Director at Oaktree Capital Management, Joy Royal, has been named CFOof Disruptive (PRNewswire)
Scott Levine has been appointed as Managing Director of Strategic Business Development at FTV Capital (YahooFinance)
Private Equity Deals with Growing Backlogs
Private equity firms are grappling with a growing backlog of portfolio companies, raising concerns that the industry's exit challenges could persist for years. According to PitchBook, U.S. buyout firms held roughly 13,500 companies as of mid-2026, with nearly 4,000 owned for more than six years—well beyond the traditional three-to-five-year investment horizon. The bottleneck has been exacerbated by declining software valuations, as AI-driven disruption and slowing growth have made it difficult to exit companies acquired at peak 2020–2021 prices. Many of these businesses also carry significant debt, discouraging sponsors from selling at discounted valuations. As liquidity pressures mount, firms are increasingly turning to secondary transactions and continuation vehicles to return capital to investors. Fundraising remains subdued and concentrated among the industry's largest managers. A modest revival in the IPO market offers hope, with private equity-backed listings reaching their strongest pace since 2021—potentially providing a much-needed path for long-delayed exits.
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