Fleming’s Rockefeller Gets $3 Billion Valuation in Wealth Push
- Firm receives backing from billionaire Desmarais family
- Viking Global remains the majority investor in Rockefeller
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Rockefeller Capital Management, the wealth and investment advisory firm that emerged from the Rockefellers’ family office, received backing from Canada’s Desmarais family that values the business at $3 billion.
The New-York based firm secured $622 million from IGM Financial Inc. in exchange for a 20.5% stake and two board seats, the firms said in a statement Monday. The deal, which is the first outside investment in Rockefeller to be disclosed publicly, brings together two of North America’s influential financial families.