Pathstone – an Englewood, N.J.-based partner-owned firm dedicated to serving ultra-high net worth families, single family offices, and foundations and endowments – announced it will acquire independent advisory Hall Capital Partners LLC to further enhance its investment capabilities.
With offices in San Francisco and New York, registered independent adviser Hall Capital has a 30-year track record serving UHNW families, endowments, and foundations. Hall Capital provides clients with a customized investment experience centered around designing and executing strategies that address their complex investment and financial goals.
The Hall Capital acquisition will bring Pathstone’s total assets under advisement and administration to nearly $160 billion, and total assets under management to nearly $100 billion.
“We have been a long-time admirer of Hall as one of the most respected, long-standing firms in our industry and we believe that combining the best of our respective organizations creates a truly unique value proposition,” said Matt Fleissig, chief executive officer of Pathstone. “We could not be more excited as we believe our combination represents a seminal moment for our firm, redefining the concept of scale in our industry and accessing a tremendous new group of team members and two sought-after locations – San Francisco and New York.”
Founded in 1994 by Katie Hall, Hall Capital advises more than 130 clients who represent approximately $45 billion in assets. The firm touts 180 staff whose expertise spans portfolio management, investment research, and operations functions.
“Pathstone’s services are differentiated and serve as a natural complement to our research and portfolio management capabilities,” said Eric Alt, Sarah Stein and Simon Krinsky – all managing partners at Hall Capital – in a joint statement. “Each of our independent, solutions-oriented businesses have proved durable in the face of increasing competition. Together we believe we can deliver something unparalleled in the market and continue to meet the evolving needs of our complex clients.”
Following closing, Pathstone will expand its national footprint with a total of 23 offices and over 750 team members – nearly 300 of whom are shareholders of the firm.
“This combination represents the natural next step for Hall Capital,” said Katie Hall, co-founder and co-chair of Hall Capital. “From the beginning, we have strived and prided ourselves on our ability to meet the needs of our clients, and we truly believe this combination brings together two complementary organizations who will benefit immensely from collaboration and sharing of resources. We are thrilled to join the Pathstone family and continue to build on our collective vision.”
Pathstone’s existing private equity backers since 2023 and 2019, respectively, Kelso & Company and Lovell Minnick Partners also contributed financing to support the Hall transaction.
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