Key Takeaways
- • Steward Partners, a Stamford-based RIA, raised $475 million in capital from Ares Credit Funds, which takes a noncontrolling minority stake and expands its lending relationship with the firm.
- • Steward Partners has grown from three advisors managing less than $100 million in assets at its 2013 founding to nearly $50 billion in assets under management, positioning it among the largest employee-owned RIAs.
- • The investment brings Ares Management—which manages over $595 billion globally across North America, South America, Europe, Asia Pacific, and the Middle East—into Steward's existing institutional ownership alongside Cynosure Group and The Pritzker Organization.
- • Steward Partners relocated its headquarters from New York City to Stamford in 2025, reflecting a broader trend of financial services firms decentralizing from major urban centers.
- • The capital raise demonstrates institutional appetite for high-growth RIA platforms, particularly those with significant AUM and established client bases seeking non-controlling strategic partners.
Summary
Steward Partners, a Stamford-based registered investment advisory firm, has successfully raised $475 million in capital from Ares Credit Funds, a subsidiary of alternative asset manager Ares Management Corp. The investment grants Ares a noncontrolling minority stake in the firm while simultaneously expanding the existing lending relationship between the two parties.
The firm's growth trajectory underscores the appeal to institutional capital. Founded in 2013 with just three advisors and less than $100 million in assets under management, Steward Partners has scaled to oversee nearly $50 billion in client assets over the past twelve years. This expansion positions the firm as a significant player in the RIA landscape and demonstrates the viability of the employee-owned wealth management model at scale.
Ares Management Corp., the parent entity behind Ares Credit Funds, brought substantial institutional credentials to the transaction. As of September 30, 2025, Ares managed more than $595 billion in assets globally, operating across six major geographic regions including North America, South America, Europe, Asia Pacific, and the Middle East. This capital infusion reflects confidence in Steward Partners' business model and growth prospects.
The transaction expands Steward Partners' institutional ownership base. Existing backers Cynosure Group and The Pritzker Organization retain their positions alongside the new Ares investment, creating a syndicated ownership structure that balances growth capital with operational flexibility. The firm's recent relocation of headquarters from New York City to Stamford earlier in 2025 signals a strategic shift toward Connecticut's growing financial services ecosystem and lower operational costs.
The firm's growth trajectory underscores the appeal to institutional capital. Founded in 2013 with just three advisors and less than $100 million in assets under management, Steward Partners has scaled to oversee nearly $50 billion in client assets over the past twelve years. This expansion positions the firm as a significant player in the RIA landscape and demonstrates the viability of the employee-owned wealth management model at scale.
Ares Management Corp., the parent entity behind Ares Credit Funds, brought substantial institutional credentials to the transaction. As of September 30, 2025, Ares managed more than $595 billion in assets globally, operating across six major geographic regions including North America, South America, Europe, Asia Pacific, and the Middle East. This capital infusion reflects confidence in Steward Partners' business model and growth prospects.
The transaction expands Steward Partners' institutional ownership base. Existing backers Cynosure Group and The Pritzker Organization retain their positions alongside the new Ares investment, creating a syndicated ownership structure that balances growth capital with operational flexibility. The firm's recent relocation of headquarters from New York City to Stamford earlier in 2025 signals a strategic shift toward Connecticut's growing financial services ecosystem and lower operational costs.
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