Snowden Lane Partners, an independent, advisor-owned, wealth advisory firm dedicated to providing client-focused advice in a values-driven culture, together with Snowden Lane’s private equity partner, Estancia Capital Partners, secured a $100 million credit facility.
The new facility replaces a facility originally secured with ORIX Corporation in 2018 and subsequently expanded in early 2022. The $100 million of available credit will enable Snowden Lane to significantly bolster its recruiting momentum and position itself for sustained growth through 2023 and beyond.
In 2021, Snowden Lane recruited $2.4 billion in client assets and 13 advisors, and in 2022 the firm recruited more than $1.5 billion in client assets and 10 advisors, making it one of the fastest-growing firms in the independent RIA space. Snowden Lane currently services approximately $9 billion in client assets.
“We’re excited to kick off the new year with this announcement, as this additional, non-dilutive capital will allow us to execute our vision for the firm’s next stage of growth,” Rob Mooney, managing partner and CEO of Snowden Lane Partners, said. “We are extremely grateful for Estancia’s support. Estancia continues as a committed partner since the early days of our business and played a crucial role helping Snowden Lane realize its potential. We look forward to continuing our shared success in the coming year.”
“Estancia’s most important investment criteria is always partnering with companies who have experienced management teams capable of executing on their growth strategy and maximizing value,” Takashi Moriuchi, managing director and co-founder of Estancia, said. “Snowden Lane and its executive team is a prime example of why this is so important. Under the management team’s leadership, the firm rapidly become a key player in the independent wealth management space and is an attractive destination for advisors seeking a full-service alternative to the wirehouses. As Snowden Lane’s partner, we believe this financing provides even more support for management to continue attracting amazing financial advisors leading to even greater growth.”
In connection with the new facility, Apogem Capital served as joint lead arranger, joint bookrunner and administrative agent. Monroe Capital also served as joint lead arranger and joint bookrunner.
