GeoWealth, a platform specialising in turnkey asset management and proprietary technology, has secured $38m in a Series C funding round.
Apollo, a global alternative investment manager, led the round, marking the beginning of a partnership aimed at enhancing access to public-private model portfolios for registered investment advisors (RIAs).
This latest funding round also includes contributions from prior investors BlackRock, J.P. Morgan Asset Management, and Kayne Anderson Capital Advisors.
The collaboration between GeoWealth and Apollo aims to integrate the fintech firm’s unified managed account technology with the latter’s private market expertise. This integration is expected to help RIAs build more efficient multi-asset portfolios.
Apollo partner and chief client and product development officer Stephanie Drescher said: “Investors are increasingly looking beyond public markets for greater diversification and differentiated returns. To meet this demand, Apollo is deeply committed to expanding access to institutional-quality private markets solutions and backing leading technologies reducing friction from the process.
“Together with GeoWealth, we are working towards empowering RIAs to build modern portfolios that integrate public and private strategies for their clients.”
The capital raised will be directed towards expanding GeoWealth’s capabilities in public-private model portfolios. The company plans to enhance product development and invest in human resources to address increasing client demand for diverse asset types within unified managed accounts.
Additionally, GeoWealth has acquired the TAMP assets from Freedom Advisors as part of its growth strategy.
Previously, BlackRock, J.P. Morgan Asset Management, and Kayne Anderson Capital Advisors invested $18m in July 2024 to support GeoWealth’s development of products that meet the rising demands of clients seeking varied asset types. This funding is also part of the Series C round.
GeoWealth provides a platform designed for modern RIAs, offering integrated technology solutions for portfolio management while handling administrative tasks such as performance reporting and billing. Founded in 2010 and based in Chicago, Illinois, GeoWealth aims to improve service efficiency and facilitate growth for advisors and firms.
GeoWealth CEO Colin Falls said: “With Apollo joining as a strategic investor and partner, we’re accelerating our commitment to building unified public-private model portfolios and supporting advisors with the flexible technology, investment choice and resources they need to deliver customised solutions.
“Advisers are seeking turnkey access to private markets, and our tech-enabled implementation platform will allow them to run a models-based practice with the flexibility and breadth to meet complex client needs.”
Legal counsel for the transaction was provided by Paul, Weiss, Rifkind, Wharton & Garrison for Apollo, and Baker & McKenzie along with Depew Gillen Rathbun & McInteer for GeoWealth.
