Rosemont Investment Partners LLC, a private equity firm in Conshohocken, Pa., that focuses on investments in asset and wealth management companies, is acquiring a minority stake in Hartland & Co. LLC, Hartland announced Monday.
Hartland, based in Cleveland, advises 150 institutions and 500 families and individuals with a total of $18 billion in assets. The firm provides both traditional and discretionary investment consulting services to retirement plans, endowments, foundations and healthcare organizations.
The transaction helps fulfill Hartland's long-term strategy of transferring ownership from founding to employee owners. Through this latest transaction—in which 28 employees gained ownership shares through Rosemont—and earlier transactions, employees now own a majority of the firm, Hartland said.