Rosemont Investment Partners takes minority stake in Hartland & Co.

Private equity firm Rosemont Investment Partners is taking a minority interest in institutional and wealth advisory firm Hartland & Co. as part of a management-led recapitalization of Hartland, according to a joint press release.

The management recapitalization will help Hartland expand firm ownership to employees. Hartland was founded in 1989 as a defined benefit plan consulting firm by Thomas Hartland, chairman.

Twenty-eight current and new Hartland employees will invest alongside Rosemont and own 68% of the firm, according to an ADV filed with the Securities and Exchange Commission. Terms of the deals were not disclosed.

Hartland’s has $18 billion in assets under advisement for more than 150 institutions and 500 families and individuals.

David C. Fulton Jr., president and CEO of Hartland & Co., and Genie Logue, managing director of Rosemont, couldn’t be reached by press time.