CAIS Capital LLC, a tech platform for financial advisers and alternative asset managers, has received a growth investment of $100 million from middle-market private equity firm Reverence Capital Partners LP.
As part of the deal, Reverence Capital Managing Partner Milton Berlinski will join CAIS’s board of directors, according to a statement provided to Bloomberg News. The latest raise is a continuation of the New York-based company’s $225 million round in January, when the business received capital commitments from Apollo Global Management Inc., Motive Partners and Franklin Templeton.
The newest capital from Reverence “puts us at just over $1.1 billion valuation,” Matt Brown, founder and chief executive officer at CAIS, said in an interview. The fresh funds should be looked at “as one transaction of $325 million,” he said, referring to the company’s raise earlier in the year.
Read more: BNN Bloomberg
