Rosemont Investment Partners made a minority investment in Westmount Asset Management, a Los Angeles-based provider of investment management services and advice to high-net-worth individuals and institutional investors.
Details of the deal aren’t being released, according to an e-mailed response to questions from James E. Berliner, Westmount’s co-founder, president and chief investment officer.
Westmount oversees roughly $1.4 billion in assets under management, according to a news release, issued Monday.
Rosemont’s investment will help promote an equity recapitalization at Westmount, with the goal of expanding equity ownership at the firm, which employs 20 people, according to the release.
In his e-mail, Mr. Berliner said he and his father, Chairman Robert A. Berliner, who together founded Westmount in 1990, each own a 50% stake in the firm at present.
With the recapitalization, Christopher Werner, Westmount’s chief operating officer, and Michael Amash, a senior vice president, will become partners of the firm, according to the release.
David Silvera, a managing director with Rosemont, couldn’t immediately be reached for further comment.
Mr. Berliner said Westmount was advised on the deal by investment bank Silver Lane Advisors.