DLA Piper acts as lead counsel to the principals of wealth management advisory firm Bel Air Investment Advisors in its sale to Hightower, a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations.
Established in 1997, Bel Air Investment Advisors provides financial advisory, asset and investment management services to exclusively high net worth individuals, families, trusts and foundations with US$20 million or more in investable assets. Headquartered in Los Angeles, Bel Air serves more than 300 families across the United States and oversees more than US$8 billion in assets, including private foundation relationships.
“We are pleased to utilize our market-leading M&A capabilities and extensive experience guiding advisory firms through complex transactions to assist in Bel Air’s sale to Hightower. It is exciting to see Bel Air enter into this new partnership with Hightower that allows it to continue to build on its platform while serving the investment and financial needs of individuals, families and foundations,” said Afshin Beyzaee, the DLA Piper partner who led the firm’s deal team.
“Afshin and the DLA team were instrumental in structuring the transaction in a way that positioned Bel Air for the future,” according to Bel Air president David Sadkin. “We are very pleased with the outcome and believe that our clients will be well served in our new partnership with Hightower.”
In addition to Beyzaee, the DLA Piper team representing Bel Air included associates David Parsly and Marina Ahmad (all of Los Angeles).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for ten consecutive years, according to Mergermarket.