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Beacon Pointe Gets KKR Investment

Beacon Pointe LLC said Wall Street powerhouse KKR & Co. is making a 50% investment to help the Newport Beach wealth manager continue its rapid expansion.

The Beacon Pointe team will own the other 50% of the company going forward. Abry Partners, which invested in Beacon Pointe in March, 2020, will exit its minority stake as a result of the KKR transaction.

“With the support of KKR’s deep experience and resources, Beacon Pointe will have the opportunity to further invest in the business and continue to expand our footprint across the nation,” co-founder and chief executive Shannon Eusey said in a statement.

Founded in 2002, Beacon Pointe is one of the largest independent registered investment advisory (RIA) firms in the nation with over $20 billion in assets under management. KKR (NYSE: KKR) is a Wall Street investment firm valued at $45 billion and with $429 billion in assets under management.

(For more details, see the Nov. 22 print edition of the Orange County Business Journal.)

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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