Estancia Capital invests in Snowden Capital
Snowden Capital Advisors LLC signed an agreement with Estancia Capital Partners LP for a strategic growth capital investment. The terms of the said deal were not disclosed, according to a report published by The Sacramento Bee.
Estancia is a top private equity fund that focuses on wealth management, business services, and global asset management. Snowden is a client-focused and nationally branded wealth advisory firm for individuals and institutional clients. The company was co-founded by Rob Mooney and John Morris in 2011. The firm is presently based in New York City.
The proceeds from Estancia will be used to expand Snowden's business. This will be done through the addition of Financial Advisor partners in the company's markets in New York, California, and Connecticut. Snowden employees, executives, and advisers will still hold a significant stake in the company, said the report.
Snowden Capital's placement agent and financial advisor to this deal was Sandler O'Neill + Partners LP, The Sacramento Bee reported.