CONSHOHOCKEN, PA — Rosemont, known for its investments in employee-owned financial entities, has announced a minority stake in Northside Capital Management, LLC. This investment is set to provide the Oregon-based outsourced investment manager, which boasts over $5.2 billion in assets under management and advisement, with enhanced stability and governance support.
Northside Capital Management caters to the unique needs of ultra-high net worth families through customized investment and portfolio management services. The firm’s decision to partner with Rosemont was driven by a shared commitment to maintaining operational independence while ensuring the continuation of high-quality service for its clients.
Jim DeWolfe, Northside’s Managing Member and President, emphasized the importance of selecting a partner who respects the company’s autonomy while offering deep industry expertise and a long-term investment approach. Rosemont’s minority investment model, coupled with its permanent capital structure, stood out as the best fit for Northside’s forward-looking strategy.
Brad Mook, Managing Director at Rosemont, highlighted the growing market demand for independent, conflict-free financial advisory services. He commended Northside’s institutional-level investment capabilities and personalized client servicing, noting these as key factors behind Rosemont’s decision to invest.
This transaction marks Rosemont’s fourth foray into permanent capital investment, a shift from its previous twenty-six investments made through private equity funds. The move underscores a broader industry trend towards permanent capital solutions, providing firms like Northside with a stable investment horizon and fostering long-term growth without the typical constraints of traditional private equity timelines.
Legal advisement for the transaction was provided by Cozen O’Connor for Rosemont, and Winston & Strawn for Northside, with specific terms of the deal remaining confidential. This partnership not only solidifies Northside’s position in serving ultra-high net worth families but also signals Rosemont’s continuing influence in reshaping the landscape of asset and wealth management investments.
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