The Vistria Group takes controlling stake in financial services firm U.S. Retirement & Benefit Partners

• USRBP specializes in employee benefits and employer-sponsored retirement plans in K-12 public schools, governmental, corporate and non-profit markets
• Based in Chicago, Vistria Group invests in the middle market
• Vistria has over $10 billion in assets under management

The Vistria Group has acquired a controlling stake in New Jersey-based U.S. Retirement & Benefits Partners, a financial services firm, from Kohlberg & Company, according to a source familiar with the deal. Kohlberg will remain a a minority investor and partner with The Vistria Group to further accelerate the growth of USRBP.

No financial terms were disclosed.

USRBP specializes in employee benefits and employer-sponsored retirement plans in K-12 public schools, governmental, corporate and non-profit markets.

“Since 2018, it has been a pleasure to support the USRBP leadership team as they have significantly transformed the business through continued investments in technology innovation and strategic acquisitions,” said Evan Wildstein, a partner at Kohlberg & Company in a statement. “USRBP has immense potential for growth and to positively impact the retirement and benefits management space, and this strategic partnership with The Vistria Group represents a significant milestone for the business. We look forward to working together to expand USRBP’s capabilities and further strengthen the Company’s position in the marketplace.”

Based in Chicago, The Vistria Group invests in the middle market. Vistria has over $10 billion in assets under management.

Based in Mount Kisco, New York, Kohlberg backs the middle market. Over the firm’s 36-year history, the firm has organized 11 private equity vehicles totaling in aggregate over $14 billion.