New York-based personal funding agency Turning Rock Companions has offered $30 million in senior debt financing to Silverleaf Wealth Administration, an Omaha, Neb.-based agency affiliated with Gladstone Wealth Companions, a big enterprise of LPL Monetary.
“This transaction will assist help our future progress and permit Silverleaf to proceed its acquisition technique,” Justin Gibson, president of Silverleaf Wealth Administration, mentioned in an announcement. “This capital may also enable us to increase companies to a broader consumer base.”
Gibson based Silverleaf in 2015 after he and his staff broke away from Waddell & Reed. As of 2022, when Silverleaf shuttered its personal RIA and moved over to Gladstone, it had practically $700 million in belongings beneath administration.
“By way of this funding, TRP has the chance to again a robust founder in an business ripe for consolidation, offering priceless monetary companies to its shoppers,” Turning Rock COO John Hamilton mentioned in an announcement.
Turning Rock makes debt, fairness and hybrid investments in lower-middle market companies.
