Fisher Investments secures strategic minority investment up to $3bn

In a significant move within the financial services sector, Fisher Investments (“FI”) has announced a landmark minority investment by Advent International (“Advent”) and a subsidiary of the Abu Dhabi Investment Authority (“ADIA”). The investment, ranging between $2.5 billion to $3 billion, pegs the valuation of Fisher Investments at a remarkable $12.75 billion. This infusion of capital underscores the firm’s robust positioning and growth trajectory in the global investment advisory landscape.

Slated to close later this year, this transaction sees FI’s Founder and Executive Chairman, Ken Fisher, maintaining his role alongside CEO Damian Ornani, who continues to steer the company. Importantly, this deal will not alter Fisher Investments’ operations, impacting neither its clients nor its employees, thus ensuring business continuity. The completion of this deal is contingent upon customary regulatory approvals and closing conditions.

This transaction is a strategic component of Ken Fisher’s estate planning, ensuring the firm’s long-term independence as a privately held entity. With a management portfolio exceeding $275 billion across 150,000 clients worldwide, including prominent institutional and high net worth individuals, FI’s sustained expansion is well supported. Fisher’s commitment to maintaining majority ownership and control post-transaction, with over 70% of the voting shares, signals continued stability and growth prospects.

Fisher’s decision to sell personal holdings to Advent-managed funds and ADIA reflects a strategic alignment with long-term investors who appreciate FI’s market position and growth potential. Damian Ornani highlighted the deal’s significance, stating, “This transaction gives us the independent runway with truly exceptional institutional investors who can bring us their wisdom, value our unique to us culture and goals, and want us to keep doing what we’ve always done, bigger and better, while pioneering never yet done solutions to benefit our clients and employees.”

Advent’s Managing Partner, David Mussafer, expressed enthusiasm for their involvement, emphasizing their commitment to supporting FI’s next growth phase while preserving its distinctive corporate culture. This strategic infusion is poised to enhance FI’s operational capabilities and innovation potential, further solidifying its stature in the global financial services industry.