BlackRock, JPMorgan invest in Dynasty Financial’s latest capital raise
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- Dynasty Financial Partners, a firm that provides back-office services for financial advisory firms, raised capital from new investors BlackRock (NYSE:BLK) and J.P. Morgan Asset Management (NYSE:JPM), as well as existing investor Charles Schwab (NYSE:SCHW), the company said Tuesday.
- The financing round valued Dynasty at ~$800M, Bloomberg News reported, citing a person familiar with the matter. Dynasty didn’t disclose the size of the transaction. Some long-standing investors and members of the company’s board also participated in capital raise, the company said.
- All proceeds from the investment round will go into Dynasty’s business to enhance its platform, which helps clients build better businesses, it said.
- “Enhancing our fortress balance sheet will allow us to provide more capital in support of our clients who are looking to grow their businesses via M&A or achieve succession planning goals,” said Dynasty CEO and Founder Shirl Penney.
- Dynasty’s network consists mostly of clients who own and operate independent registered investment advisories that use Dynasty’s technology, services, turnkey asset management program, digital lead generation services, capital solutions, and investment bank. Its clients mostly focus on serving high net worth and ultra-high net worth clients.