Golden Gate Capital Invests in Parallel Advisors

Paul, Weiss is advising leading private equity firm Golden Gate Capital in its strategic investment in Parallel Advisors, LLC, a registered, independent wealth management firm, as part of Parallel’s recapitalization.

Golden Gate’s investment will accelerate Parallel’s M&A strategy and organic growth opportunities, including its acquisition of boutique asset management firm AUTUS Asset Management, LLC. Financial terms of Golden Gate’s investment and Parallel’s acquisition of AUTUS, both announced on January 5, were not disclosed. In connection with the transactions, minority investor Emigrant Partners fully exited its position in the combined company.

The Paul, Weiss team includes, among others, corporate partner Jeremy Veit; tax partner Robert Holo; executive compensation partner Lawrence Witdorchic; intellectual property partner Jonathan Ashtor; finance partner David Tarr; litigation counsel Steven Herzog; and corporate governance counsel Jason Tyler.