GeoWealth Secures $19 Million in Series B Funding Led by Kayne Anderson Capital Advisors with Follow-on Investment from J.P. Morgan Asset Management

GeoWealth secured $38M in a Series C funding round led by Apollo to enhance its TAMP model portfolios by integrating private markets for RIAs. The funding will boost product development and human capital. Apollo will embed its private market offerings into GeoWealth's UMA tech, providing RIAs access to alternative assets. Part of the funding was used to acquire Freedom Advisors' TAMP business, consolidating GeoWealth's position in the advisor tech space.

DENVER and HOUSTON, Nov. 14, 2024 (GLOBE NEWSWIRE) -- FourPoint Resources, LLC (“FourPoint”), together with their partners Quantum Capital Group (“Quantum”) and Kayne Anderson, announced today the signing of a purchase and sale agreement to acquire Ovintiv Inc.’s (NYSE, TSX: OVV) Uinta Basin assets for a purchase price of $2.0 billion in cash. The asset includes 126,000 net acres and production of 29 Mbbls/d.“The opportunity to partner with Quantum and Kayne Anderson, two of the premier private equity firms in energy, will allow our team to immediately begin the work to grow production, cash flow and create value on one of the highest quality, inventory-rich assets in the Lower 48,” said George Solich, Chairman and Chief Executive Officer of FourPoint.Eric Eichler, Chief Operating Officer of FourPoint, said, “The Uinta Basin boasts a unique combination of attributes that make it an exceptional asset including several thousand feet of hydrocarbon-rich reservoirs, premium quality crude oil and a long history of stakeholder alignment. Coupled with FourPoint’s commitment to operational excellence and responsible stewardship, this asset presents a remarkable opportunity to generate long-term value for our investors, employees, and the broader community.”“We are excited to build on our longstanding partnership with George and the FourPoint team and to collaborate with like-minded investors at Kayne Anderson,” said Ajay Khurana, Co-President of Quantum. “With the maturation of unconventional resource plays in the United States, assets possessing multiple decades of high-returning, undrilled inventory, like these, are exceedingly rare. We look forward to working closely with FourPoint and believe their proven execution capabilities will drive economic production growth on this asset and maximize value for the local community, as well as Quantum’s investors.”Mark Teshoian, Managing Partner & Co-Head, Energy Private Equity at Kayne Anderson, commented, “We are excited to partner with FourPoint and Quantum in acquiring Ovintiv’s Uinta Basin assets