Ropes & Gray advised Mariner in its sale of a minority stake to Neuberger Berman Capital Solutions and funds managed by Neuberger Berman Private Markets. Existing investor Leonard Green & Partners will be retaining all of its investment in Mariner.
The transaction was announced Oct. 29 in a press release. Financial terms were not disclosed.
Mariner is a privately held wealth management firm with expertise in tax, estate, trust, insurance, and investment banking and valuation. Mariner and its affiliates advise on over $245 billion in assets as of June 30.
The deal team was led by private equity partners Jessica Murray and Scott Abramowitz, private equity associate Winne Kloo, tax partner Tristan Evans-Wilent, and capital markets partner Faiza Rahman.
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