Lightyear Capital and OTPPB to acquire Allworth Financial from Parthenon Capital.

Investment firms Lightyear Capital and Ontario Teachers’ Pension Plan Board agreed to acquire Allworth Financial, an independent investment financial advisory firm, from Parthenon Capital, a private equity fund. Financial terms were not disclosed. "We believe we have identified another outstanding investment opportunity in wealth management and are very excited to partner with the Allworth team. Allworth has the opportunity to become a national brand name for providing financial advice. This investment is consistent not only with our long-term thesis around the growing need for financial advice, particularly in times of uncertainty, but also with our multiple prior successful investments in the space," Mark F. Vassallo, Lightyear Managing Partner.