DPL Financial Partners secures $26 million in personal equity money
In the most current signal of non-public equity revenue acquiring its way into the wealth administration industry, DPL Monetary Partners, an insurance coverage network for RIAs, on Wednesday introduced a mixed $26 million capital infusion from Eldridge and Atlas Service provider Funds.
DPL said that it plans to devote the proceeds in the enhancement of technological know-how and infrastructure to support its rising base of far more than 10,000 advisers and keep on to convey fee-free annuity and insurance policies products to their shoppers.
“Eldridge has been with us from the start off, so they understand the business we’re constructing, the large prospect in entrance of us, and the spot technology has generally occupied at the forefront of our strategic approach,” claimed David Lau, founder and chief government of DPL. “Their renewed commitment, combined with new backing from Atlas and its renowned management crew, is amazingly gratifying and thrilling.”
In link with the investments, reps from Atlas Merchant Capital and Eldridge will be signing up for a recently shaped board of directors for DPL that will also involve Lau and two impartial associates to be named later.
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