Pathstone takes private equity investment from Kelso
Pathstone, a family office firm claiming $80 billion in assets under management, welcomed an investment from private equity firm Kelso & Company for an undisclosed amount.
The firm has 17 offices and six different entities registered under that Pathstone name with the SEC. Pathstone has made a series of acquisitions to get to its current scale, and just purchased Rex Capital Advisors last month; Rex had just merged with another investment firm, Willow Street, in December. In July, Pathstone purchased Dyson Capital.
Pathstone bills itself with the trademarked phrase, "The Modern Family Office." The investment from Kelso, says Pathstone CEO Matt Fleissig, "will provide capital to further support our culture of growth and innovation, as well as resources and expertise to enable us to accelerate our strategic initiatives and deliver upon the multi-generational promise we make to our clients and employees alike."
Of the six SEC-registered entities controlled by Pathstone, only one, Pathstone Family Office, reports to the SEC with a form 13F. That entity controlled $16 billion in AUM per its latest filing, with just over $6 billion in publicly-traded securities, with small positions across a wide range of investments.