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Merchant Investment Management Takes Minority Stake in Baldwin Brothers

Merchant Investment Management's minority investment in the $1.2 billion in AUM firm is meant to propel growth, Baldwin Brothers CEO says.

Baldwin Brothers, the Boston-based registered investment advisory and multifamily office, sold a minor piece of its firm to Merchant Investment Management, the firms announced. Terms of the deal were not disclosed.

“Merchant will play a critical role in securing our future as an independent firm and advancing our long-term continuity and growth plans,” said John Mannix, CEO of Baldwin Brothers. “We sought a collaborative, strategic partner to build on our outstanding foundation.”  

Baldwin Brothers, founded in 1974, manages $1.2 billion in client assets and provides services to individuals and families out of offices in Massachusetts and Mill Valley, Calif. The RIA has a long history of implementing environmental, social and governance portfolios and values-based investments for high-net-worth clients. Baldwin Brothers launched an impact fund, New Summit Investments, with investment managers Arjuna Capital in 2017. 

According to the announcement, Baldwin Brothers seeks organic and acquisition opportunities with Merchant’s support.

“We want to build upon the legacy of Baldwin Brothers by ensuring it has the durability and longevity to serve clients not just today, but for generations to come,” said Tim Bello, managing partner at Merchant.

In the course of over three years, Merchant has invested in 25 partner firms, majority being RIAs, totaling $25 billion in assets under management.

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