$8.7bn Snowden Lane put up for sale by Estancia: source

December 2021


Private equity firm Estancia Capital Partners is pursuing a sale of Snowden Lane Partners, a large hybrid RIA headquartered in New York City, according to a source familiar with the situation.

Estancia Capital Partners has hired Ardea Partners to serve as investment banker for the sale process, the source said.

A spokesperson for Snowden Lane Partners declined to comment. Representatives of Ardea Partners and Estancia Capital Partners did not respond to requests for comment.

Snowden Lane Partners, which manages roughly $8.7bn in client assets, is a frequent recruiter of advisors from wirehouses such as Merrill Lynch, Morgan Stanley and UBS. As of September, the RIA had 114 employees in 12 offices around the country.

Rob Mooney, formerly general counsel for Merrill Lynch’s wealth management division, has served as chief executive of Snowden Lane Partners since its 2011 founding. Lyle LaMothe, the former head of Merrill’s US wealth management division, is the RIA’s chairman.

Estancia Capital Partners, a private equity firm which specializes in financial services investments, has backed Snowden Lane Partners since 2013. Private equity firms typically maintain investments in their portfolio companies for a period of four to seven years.

Other Estancia Capital Partners holdings include asset managers Sapience Investments and Redwood Investments.

Ardea Partners, a boutique investment bank led by a team of former Goldman Sachs bankers, has handled some of the most prominent recent sale processes in the RIA industry. Recent clients for the New York-based firm include Mariner Wealth Advisors (for its sale of a minority stake to Leonard Green & Partners), KKR (for its investment in RIA acquirer Beacon Pointe) and Bain Capital (for its investment in RIA giant Carson Group).


About Snowden Lane Partners

Snowden Lane is a nationally branded, open-architecture, hybrid registered investment advisor and
broker-dealer that provides wealth advisory services to high net-worth individuals, families, and
institutional clients.

Snowden Lane is led by an experienced team of industry executives, including Lyle LaMothe, Chairman
of the Board of Managers, Rob Mooney, Managing Partner & CEO, and Greg Franks, Managing Partner,
President & COO, who are dedicated to building a client-focused, nationally branded, boutique wealth
advisory partnership.

Snowden Lane is headquartered in New York City and operates an SEC registered investment adviser
and a broker-dealer. Snowden Lane provides a multi-custodian, multi-currency platform, with
aggregated performance reporting and leading analytical tools for clients and advisors. It further
provides full operational, finance, compliance, human resources, and financial advisor transition support
to its financial advisors.

Kevin Santo
Water & Wall