Charlesbank Capital Partners, a private equity firm based in New York and Boston, has taken a “significant” stake in Lido Advisors, a Los Angeles-based registered investment adviser managing more than $9 billion.
Founded in 1999, Lido currently has offices in 12 metropolitan areas and plans to expand across the country organically and through acquisitions, the firm said in a release. Its executive team will remain.
The transaction, the terms of which were not disclosed, is expected to close in June.
As our second lead editor, Cindy Hamilton covers health, fitness and other wellness topics. She is also instrumental in making sure the content on the site is clear and accurate for our readers. Cindy received a BA and an MA from NYU.