Latham & Watkins Advises Ares as Co‑Lead Investor in Reverence Capital Partners’ US$2 Billion-Plus Recapitalization of Osaic

Reverence Capital Partners, a private investment firm focused on financial services, announced the closing of a recapitalization of Osaic, Inc., one of the nation’s largest providers of wealth management solutions, representing more than US$2 billion in new capital funded at close. The transaction is anchored by a continuation vehicle (CV) that will establish a new long‑term institutional capital base while maintaining the existing governance and board composition. Ares Secondaries funds and Lexington Partners served as the co‑lead investors in the CV, along with a broad syndicate of new institutional investors.

Latham & Watkins LLP represented Ares in the transaction with a corporate deal team led by New York Investment Funds partner John Kelley and New York M&A counsel Jennifer Wong, with associates Jason Xi, Joey Yu, and Bolaji Cole.* Advice was also provided on tax matters by New York partner Michael Milazzo and New York counsel Lauren Bewley, with associate Ashley Flor.

*Admitted to practice in England and Wales only.