Houlihan Lokey Advises The Vistria Group

Houlihan Lokey is pleased to announce that The Vistria Group (Vistria) has announced a strategic partnership in and recapitalization of The Mather Group (TMG). TMG is a leading wealth manager with approximately $8.0 billion in assets under management. The transaction closed on March 31, 2022.

TMG is a fee-only fiduciary firm serving primarily high-net-worth individuals, aiming to simplify clients’ lives by providing a comprehensive suite of services under one roof. Headquartered in Chicago with offices throughout the U.S., TMG is a federally registered investment adviser, providing discretionary and non-discretionary investment advice to clients. Since January 2020, TMG has completed 10 acquisitions and currently has more than 140 advisors and staff around the country. The firm scaled its AUM from $1 billion to $8 billion during the past five years and has been ranked among Barron’s list of Top 100 RIA Firms in the country for the past four years.

The Vistria Group is a Chicago-based next-generation private investment firm that operates at the intersection of purpose and profit, partnering with middle-market businesses in healthcare, education, and financial services that are passionate about growth and committed to the community. The decision to invest in these areas is driven by Vistria’s belief in companies producing scalable social value. Vistria ’s team comprises highly experienced operating partners and investment professionals with proven track records of working with management teams in building innovative, market-leading companies.

Vistria’s team of professionals brings extensive experience working with management teams in financial services, leveraging its operational resources to support its portfolio companies to help scale and expand opportunities for clients. Vistria’s involvement provides TMG with a capital structure from which to grow, both organically and through M&A, and helps TMG provide continued value to clients through enhanced service offerings.

The announcement represents Vistria’s first partnership in the wealth management space and fosters a dynamic new venture between two Chicago-based firms. As part of the investment, Vistria is backing CEO Chris Behrens and the current TMG leadership team to continue its expansion into new geographies and services.

Houlihan Lokey served as financial advisor to The Vistria Group and assisted in negotiating the transaction.