Genstar backs Cerity Partners

Genstar Capital has led a recapitalization of Cerity Partners while Lightyear Capital remains an investor.

  • Cerity says it is one of the largest and fastest-growing independent wealth management firms in the U.S.
  • The target is “well-positioned to achieve outsized growth,” said Genstar’s Tony Salewski
  • Lightyear Capital has been an investor in Cerity Partners since 2017

Cerity Partners has announced a recapitalization led by Genstar Capital, Lightyear Capital has been an investor in Cerity Partners since 2017 and will remain an investor in the firm.

“Our partnership with Genstar Capital allows us to continue enhancing value to our clients, colleagues and communities, as well as accelerating the development of our vision for becoming a first-of-its-kind global professional services firm in wealth management,” said Kurt Miscinski, Founder and CEO of Cerity Partners.

Tony Salewski, Managing Director of Genstar Capital, said, ‘We are excited to partner with Kurt and the entire management team at Cerity as they continue to scale and drive value for their clients. They are well-positioned to achieve outsized growth.”

Genstar Capital is headquartered in San Francisco with approximately $35 billion in assets under management. It has been investing in businesses for over 30 years. Its investment focus is on financial services, industrials, healthcare, and software. Its portfolio includes Mercer Advisors and Cetera Financial Group.

Lightyear Capital is headquartered in New York and was founded in 2000. It is private equity firm focused on the financial services sector. It primarily targets control investments in North American middle-market companies in financial services.

Mark Vassallo, Managing Partner of Lightyear said, “This has been a very successful partnership for Lightyear, and we look forward to our continued involvement in the firm.”

With approximately $50 billion in assets under management Cerity Partners says it is one of the largest and fastest growing independent full-service wealth managers in the U.S.