United States

Aperio equity sale: What does it mean?


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Aperio Group, LLC recently announced, San Francisco-based private equity firm, Golden Gate Capital (GGC) plans to acquire an 85 percent majority equity stake in the firm. The purpose of the transaction is to provide liquidity and solidify the firm’s succession plan for Patrick Geddes, chief executive officer and chief tax strategies, and Paul Solli, chief marketing and strategy officer, the two remaining co-founders.

While the ownership structure is material, we view the motivations and outcome of the transaction favorably. Partnering with GGC as a long-term, strategic partner allows Aperio to reinforce its long-term succession plan for its two remaining co-founders. Further, GGC is viewed as a passive investment partner with an evergreen investment horizon. In similar transactions, GGC has held its ownership stake for well over 10 years. Additionally, Aperio’s day-to-day operations and investment processes will not be impacted as result of this new partnership. For these reasons, RSM US Wealth Management LLC recommends no action at this time.

Wealth Management Services Disclosure

Information in this document was prepared by DiMeo Schneider & Associates, L.L.C. and although information in this document has been obtained from sources believed to be reliable, RSM US Wealth Management LLC, DiMeo Schneider & Associates, L.L.C. and their respective affiliates do not guarantee its accuracy, completeness or reliability and are not responsible or liable for any direct, indirect or consequential losses from its use. Any such information may be incomplete or condensed and is subject to change without notice. The Frontier EngineerTM is a registered trademark of DiMeo Schneider & Associates, L.L.C.

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