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Goldman Sachs Buys United Capital for $750M

Newport Beach’s United Capital Financial Partners said it will be acquired by Goldman Sachs Group Inc. (NYSE: GS) for $750 million in cash.

United Capital was begun in 2005 by Joe Duran, who built it to a registered investment adviser with $25 billion in assets under management, 220 financial advisers and 22,000 clients.

Duran and the firm’s employees will be joining Goldman Sachs.

The transaction is expected to close in the third quarter of 2019, subject to customary regulatory approvals and conditions.

For more on Joe Duran and United Capital, see Monday’s print edition of the Business Journal.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.

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