Key Takeaways
- • Steward Partners, a Stamford-based RIA, raised $475 million in capital from Ares Credit Funds, a subsidiary of alternative asset manager Ares Management Corp., which will take a noncontrolling minority stake in the firm.
- • Ares Management, with $595 billion in assets under management globally as of September 30, 2025, will expand its lending relationship with Steward Partners alongside the equity investment.
- • Steward Partners has grown substantially since its 2013 founding with three advisors and less than $100 million in assets to now oversee approximately $50 billion in client assets, marking a 500x asset increase.
- • The investment adds to Steward Partners' existing institutional investor base, which includes Cynosure Group and The Pritzker Organization, reinforcing the firm's institutional credibility and financial backing.
- • Steward Partners relocated its headquarters from New York City to Stamford, Connecticut earlier in 2025, positioning itself as a major player in Connecticut's wealth management landscape.
Summary
Steward Partners, a Stamford-based registered investment advisory firm, has successfully raised $475 million in capital from Ares Credit Funds, the credit investment arm of alternative asset manager Ares Management Corp. The funding round represents a significant validation of the RIA's growth trajectory and market position. Ares Credit Funds will acquire a noncontrolling minority stake in Steward Partners, preserving the firm's operational independence while securing substantial capital and expanded credit facilities.
The investment from Ares Credit Funds, backed by Ares Management's global platform of $595 billion in assets under management, signals confidence in Steward Partners' business model and growth prospects. Beyond the equity injection, Ares will expand its lending relationship with the firm, providing additional financial flexibility for operations and potential acquisitions. This capital infusion joins support from existing institutional backers Cynosure Group and The Pritzker Organization, creating a diversified institutional ownership structure.
Steward Partners' rapid expansion underscores the competitive dynamics in wealth management consolidation. Founded in 2013 with just three advisors and less than $100 million in assets under management, the firm has grown to oversee nearly $50 billion in client assets—a compound growth achievement reflecting both organic expansion and possible client acquisitions. The firm's relocation from New York City to Stamford earlier in 2025 positions it as a prominent institutional player in Connecticut's financial services market, while maintaining access to major capital sources and client networks.
For institutional investors and family offices tracking RIA market consolidation, this transaction illustrates the continued appetite among alternative asset managers to establish or deepen relationships with independent wealth managers. Ares Management's strategic positioning of both equity and credit support suggests a longer-term partnership designed to facilitate Steward Partners' continued growth while generating fee revenue streams for Ares across multiple asset classes.
The investment from Ares Credit Funds, backed by Ares Management's global platform of $595 billion in assets under management, signals confidence in Steward Partners' business model and growth prospects. Beyond the equity injection, Ares will expand its lending relationship with the firm, providing additional financial flexibility for operations and potential acquisitions. This capital infusion joins support from existing institutional backers Cynosure Group and The Pritzker Organization, creating a diversified institutional ownership structure.
Steward Partners' rapid expansion underscores the competitive dynamics in wealth management consolidation. Founded in 2013 with just three advisors and less than $100 million in assets under management, the firm has grown to oversee nearly $50 billion in client assets—a compound growth achievement reflecting both organic expansion and possible client acquisitions. The firm's relocation from New York City to Stamford earlier in 2025 positions it as a prominent institutional player in Connecticut's financial services market, while maintaining access to major capital sources and client networks.
For institutional investors and family offices tracking RIA market consolidation, this transaction illustrates the continued appetite among alternative asset managers to establish or deepen relationships with independent wealth managers. Ares Management's strategic positioning of both equity and credit support suggests a longer-term partnership designed to facilitate Steward Partners' continued growth while generating fee revenue streams for Ares across multiple asset classes.
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