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Edelman Financial Services Sells Majority Stake to Hellman & Friedman
- Client News
- October 12, 2015
Edelman Financial Services (EFS), one of the nation's largest independent financial planning firms, announced that it has entered into a definitive agreement to be acquired by affiliates of Hellman & Friedman LLC (H&F), a private equity investment firm, from Lee Equity Partners. H&F will own the business in partnership with Edelman's senior management team and current majority owner Lee Equity Partners, both of whom will retain meaningful equity ownership in the firm. Terms of the transaction were not disclosed.
The Paul, Weiss team that advised founder Ric Edelman (as a significant minority seller in the transaction and as CEO) in connection with the sale included, among others, corporate counsel Nathan Pusey; tax partner Richard Bronstein; and employee benefits partner Lawrence Witdorchic and counsel Erin Murphy.