Emigrant Partners takes stake in Tennessee RIA

Emigrant Partners, a subsidiary of New York Private Bank & Trust, has made a minority investment in Gerber Taylor Capital Advisors, an advisory firm in Memphis, Tennessee, that manages and advises on $13.8 billion in assets.

Financial terms of the investment were not disclosed.

The transaction will support succession planning among the partners of Gerber Taylor and secure an independent future for the company, New York Private said in a release.

The bank is one of the largest privately held, family owned and operated banks in the country. It is led by Howard P. Milstein and the Milstein family, large New York City real estate owners.

[More: Private equity digs heels into RIA industry]

The post Emigrant Partners takes stake in Tennessee RIA appeared first on InvestmentNews.