TA Associates Acquires Majority Interest in NorthStar Financial Services

Omaha, Nebraska-based NorthStar Financial Services Group, LLC, and its nine subsidiary wealth management industry service providers, received a majority investment from growth private equity firm TA Associates.

The amount of the transaction remained undisclosed. Following the close of it, which is expected to occur in the second quarter of 2015, NorthStar’s management team will remain significant owners. In conjunction with the acquisition, M. Roy Burns and Todd R. Crockett, TA Associates’ Managing Directors, will join NorthStar’s Board of Directors.

With approximately $275 billion in assets under management and administration, NorthStar provides support services to registered investment advisors (RIAs), independent broker dealers (IBDs) and investment management firms. The company’s primary business units are CLS Investments, Gemini Alternative Funds, Gemini Fund Services, Gemini Hedge Fund Services, Northern Lights Compliance Services, Northern Lights Distributors and Orion Advisor Services.
The firm has approximately 700 employees in Omaha and additional offices in Hauppauge, New York; Chicago, Illinois; Mill Creek, Washington; and Scottsdale, Arizona.



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