F.L. Putnam takes minority investment from Carlyle-backed Bixby to fuel expansion
What's the deal? F.L. Putnam Investment Management (FLP), a Massachusetts-based registered investment adviser, has received a minority growth investment from BixbyDealroom has a profile for this one. Try Dealroom → Wealth Solutions, an arm of Austin's Moontower GroupDealroom has a profile for this one. Try Dealroom →. Financial terms were not disclosed.
The details: FLP will keep operating independently under chief executive officer Tom Manning, with employees retaining a significant minority equity stake. The firm manages more than $11 billion in assets and employs over 165 people across 14 US offices.
What's the endgame? The capital is earmarked for advisor growth, technology, and a push into new markets. "This strategic investment positions FLP for our next phase of growth," Manning said, adding it lets the firm "welcome like-minded advisors."
Who's backing it? Bixby is a specialist platform that forges minority partnerships with independent wealth managers and is backed by CarlyleDealroom has a profile for this one. Try Dealroom →'s Global Credit business. Ardea PartnersDealroom has a profile for this one. Try Dealroom → advised FLP on the deal.
The investment follows a four-year partnership with Emigrant PartnersDealroom has a profile for this one. Try Dealroom →, which Manning thanked for its "support and assistance."
The signal: Minority stakes from specialist capital providers have become a common route for independent advisers seeking scale without ceding control — a model Bixby is betting on as it builds a roster of long-horizon wealth partners.
Read more: PR Newswire
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