New York-based private investment firm Turning Rock Partners has provided $30 million in senior debt financing to Silverleaf Wealth Management, an Omaha, Neb.-based firm affiliated with Gladstone Wealth Partners, a large enterprise of LPL Financial.
“This transaction will help support our future growth and allow Silverleaf to continue its acquisition strategy,” Justin Gibson, president of Silverleaf Wealth Management, said in a statement. “This capital will also allow us to expand services to a broader client base.”
Gibson founded Silverleaf in 2015 after he and his team broke away from Waddell & Reed. As of 2022, when Silverleaf shuttered its own RIA and moved over to Gladstone, it had nearly $700 million in assets under management.
“Through this investment, TRP has the opportunity to back a strong founder in an industry ripe for consolidation, providing valuable financial services to its clients,” Turning Rock COO John Hamilton said in a statement.
Turning Rock makes debt, equity and hybrid investments in lower-middle market businesses.