By Chris Glynn
Pathstone Family Office has
made its third purchase of 2022, acquiring $3.5 billion Dyson Capital
Advisors in Alexandria, Va.
The $35 billion PFO will combine
with Dyson Capital to become the largest registered investment advisor (RIA) in
Washington, D.C., according to a press release. Sharon Gupta, director
of marketing for Pathstone Family Office, did not disclose the cost of
acquiring Dyson Capital. PFO is a Bridgewater, N.J., RIA and family office
service provider.
The $3 billion private equity firm
Lovell Minnick Partners began backing PFO in 2019, providing investor
capital for Pathstone Family Office to become a serial RIA acquirer.
Backed via New York-headquartered
Lovell Minnick Partners, PFO in March bought $3 billion Eaton Vance WaterOak
Advisors, then in May purchased $1.9 billion direct indexer Advisor
Partners. Gupta would not comment on if Pathstone Family Office will make
another purchase in 2022, claiming the PFO is on the “lookout” for businesses
who “share our vision, culture, and strategic plan.”
Kelly Maregni, president of
Pathstone Family Office, said Dyson Capital is focused on private investing and
alternative asset management, making the company a unique purchase. Gupta noted
PFO will complete the deal for Dyson Capital August 1.