Perigon Welcomes Constellation Wealth Capital As A Strategic Investor

January 17, 2024

New Partnership Enables Continued Strategic Expansion

Merchant Investment Management to Exit After Five Years of Significant Growth

SAN FRANCISCO, JAN. 16, 2024

Perigon Wealth Management (“Perigon”), a rapidly growing independent wealth management firm with offices across the country and over $6.5 billion in client assets as of Dec. 31, 2023, today announced it has received a minority investment from Constellation Wealth Capital (“CWC”) to enhance its strategic expansion. Merchant Investment Management, which entered a partnership with Perigon in 2019, will exit the relationship after five successful years. The terms of the deal were not disclosed.

“Constellation has quickly established a reputation for working collaboratively with operational leadership that aims to foster a relationship that delivers meaningful growth, and we look forward to working with their team,”

said Arthur Ambarik, Perigon’s CEO.

“This investment positions our firm and clients for continued success as a sustainable, majority advisor-owned, client- and advisor-centric firm. Merchant has been a great partner, and their strategic and financial support helped our team increase our client assets by nearly 10-fold and expanded our national footprint.”

Chicago-based Constellation Wealth Capital was founded by Karl Heckenberg as an alternative asset management platform specializing in making tailored investments in well-positioned wealth management firms.

Heckenberg said,

“Perigon’s consistent growth is a testament to its effective strategy in the competitive wealth management space. We believe Perigon’s model of supporting financial advisors with flexible affiliation models and compelling platforms, solutions and technology, results in advisors who are better positioned to drive growth and deliver for their clients. Under Art’s leadership, the management team has been delivering impressive results and we are enthusiastic about supporting their future achievements.”

Merchant Investment Management, which provides growth capital, management resources and strategic direction to independent financial services firms, partnered with Perigon five years ago. Perigon more than doubled its assets under management (AUM) in the first year of the partnership, including its landmark merger with another Merchant partner firm, RLP Wealth Management, led by the current Perigon President Jeremy Paul.

Marc Spilker, Merchant’s Executive Chairman, added,

“Merchant and Perigon had an incredibly productive partnership, the opportunity in the industry continues to grow and we wish the Perigon team well in the next phase of their business.”

Perigon, an advisor-led firm, has added teams and offices across six major markets since December 2021, including New England and the San Francisco Bay Area. The firm was named one of RIA Channel’s 2022 Top 50 Wealth Managers by Growth in Assets and included on the Forbes Top RIA list.1 In September 2022, the firm announced a merger with PM Wealth Management and formed a strategic alliance with Prager Metis tax advisory firm. In November of that year, Perigon announced it acquired Nauset Wealth Management and expanded its Atlanta office.

Ardea Partners LP served as the exclusive financial advisor to Perigon, and Alston & Bird LLP served as its legal counsel. Kirkland & Ellis LLP served as the legal counsel to Constellation Wealth Capital.

1 Learn more about RIA Channel’s 2022 Top 50 Wealth Managers at https://www.riachannel.com/2022-top-50-wealth-managers-by-growth-methodology/ and about Forbes” Top RIA ranking methodology at https://www.forbes.com/sites/rjshook/2022/10/25/methodology-americas-top-ria-firms-2022/?sh=4058511e17d9.

About Constellation Wealth Capital

Constellation Wealth Capital is an alternative asset management platform dedicated to the wealth management sector. CWC provides flexible, long-term capital solutions, and strategic advisory support to scaled wealth management platforms. CWC leverages its deep industry experience and relationships for the benefit of its partner firms. Learn more at www.constellationwealthcapital.com or contact us at [email protected].

Written by Perigon Wealth

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