Wealth advisory firm Lido Advisors has partnered with HPS Investment Partners to bolster its growth trajectory.

Lido Advisors, which manages more than $30bn in assets, will collaborate with HPS, an alternative investment firm with approximately $150bn in assets under management (AUM).

This “strategic partnership” with HPS is expected to further strengthen Lido's operational capabilities.

The transaction is anticipated to be finalised in the third quarter of this year.

Lido president Ken Stern said: “Our new partnership with HPS validates the strength of our platform and underscores the significant opportunities ahead. Lido is extremely well positioned to continue growing and enhancing the services we can provide our clients.”

HPS joins Lido's current partner Charlesbank Capital Partners.

Charlesbank Capital Partners, founded in 1998, is a middle-market private investment firm managing around $20bn in assets, focusing on various sectors, including business services, healthcare, and technology.

Charlesbank managing director and CEO Michael Choe said: “Lido has made extensive investments in its team and capabilities in recent years, establishing the firm as a standout in the wealth management space.

“We’re excited to continue our partnership as Lido builds on its innovative strategies and differentiated client-first service model.”

Ardea Partners acted as the lead financial advisor for Lido, with William Blair & Company also providing advisory services.

Additional financial advice was offered by Houlihan Lokey and Piper Sandler. Legal counsel for Lido and Charlesbank was provided by Ropes & Gray, while Sidley Austin represented HPS.

Established in 1999 and based in Los Angeles, Lido Advisors provides a family office-style service to high-net-worth individuals, families, and institutions.

The firm offers a comprehensive suite of wealth advisory services, including investment management, estate and tax planning, and alternative investment strategies.

In 2022, Lido Advisors acquired Enterprise Trust & Investment Company (ETIC), which provides private trustee services and investment management to high-net-worth individuals and families.

"Lido Advisors teams up with HPS to fuel long-term growth" was originally created and published by Private Banker International, a GlobalData owned brand.

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