BlackRock, JPMorgan Asset Back Dynasty Financial at $800 Million Valuation
Proceeds from minority raise will fund growth for Dynasty.
Dynasty Financial CEO Shirl Penney
Photographer: Jeremy Scott/Dynasty FinancialThis article is for subscribers only.
Dynasty Financial Partners, a provider of back-office services to independent investment advisers, won backing from BlackRock Inc. and JPMorgan Asset Management as it looks to accelerate growth.
The minority capital raise values Dynasty at about $800 million, according to a person familiar with the matter, who asked not to be identified discussing private details. The firm didn’t disclose the size of the deal, which also included previous investors.