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Ascensus sells for $3 billion after failing to draw buyers for one-third less in 2018, but faith and patience pay off with 50% premium on deal

Investors Genstar, Aquiline and Atlas sold Ascensus for a deal valued at $3 billion to rollup IPO-prep experts at Stone Point, according to reports.

Author Lisa Shidler May 1, 2021 at 5:21 AM
1 Comment
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Teresa Hassara joined Ascensus as president of its FuturePlan unit in April.

Ascensus

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Aquiline Capital

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Genstar Capital


Brian Murphy

Brian Murphy

May 2, 2021 — 11:50 PM
This is just shuffling assets from one PE investor base to another at inflated values. It says little about the prospects of the operations themselves and more about the continuing fiat currency debasement. Given the Fed has been printing money at a 15% clip for the past 3 years, the real value hasn't really increased at all. 10 years from now it will all become apparent that these "gains" are nothing but inflation expressing itself through depreciating currencies.

Related Moves

November 29, 2018 at 11:54 PM

Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer

Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.

June 29, 2024 at 3:00 AM

During CEO Tim Buckley's waning months, Vanguard is imposing fees that may affect its older investors, while hand-off to Ascensus of certain IRA and 401(k) products also comes with some sticker shock

The Malvern, Pa., giant transferred SEP IRA and 401(k) assets to its recordkeeper, which immediately imposed new fees, while Vanguard's new pricing schedule includes a commission to phone in Vanguard fund sales or purchases

May 2, 2024 at 1:27 AM

How $7B Professional Capital Services is trying to out-nimble, out-RIA $188B Ascensus but with Edmond Walters there to carry a big stick

The eMoney founder joined the Philly TPA's board to oversee a PCS that hires madly, rewrites software, RIA-izes its services and develops marketing punch

February 28, 2019 at 12:41 AM


Mentioned in this article:

Ascensus
Third Party Administrator
Top Executive: David Musto Chairman & CEO



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