Mariner, a leading national financial services firm, announces Neuberger Berman Capital Solutions (NB Capital Solutions) and funds managed by Neuberger Berman Private Markets (NB) have made a significant minority growth investment in the firm.

NB joins existing investor Leonard Green & Partners (LGP), which made a minority investment in Mariner in 2021 and will be retaining all its investment in Mariner. Mariner will continue to be led by its Chief Executive Officer and President Marty Bicknell.

Mariner is a fast-growing, leading national financial services firm that offers retail and institutional clients a holistic set of wealth advisory solutions spanning financial planning, investment management, retirement planning, estate and tax planning and insurance products.

“Mariner is fully committed to building the fiduciary service provider of the future,” said Bicknell. “With this investment and continued partnership, we are confident in our ability to reach new heights in both client service and business expansion as we continue to build a truly holistic financial services firm rooted in the vision of positively impacting the lives of many.”

Together with its affiliates, Mariner has more than $245 billion in combined assets under management and advisement. Mariner’s goal remains scaling its national advisor base to 5,000 advisors, a vision that will be achieved through both organic growth—via strategic alliances and referral partnerships—and inorganic growth via strategic acquisitions.

The growth capital from NB will help accelerate these efforts, allowing Mariner to further scale its operations and accelerate inorganic growth while staying true to its client-first approach.

"We are thrilled to be backing Marty and the exceptional team at Mariner," said David Lyon, Head of NB Capital Solutions. "Marty has built a truly differentiated business that sets the standard for personalized, holistic financial advice. This investment underscores our confidence in Marty's leadership and the entire Mariner team, and we look forward to supporting their continued growth and success as they help more clients achieve their financial goals."

Tapping into the capital and strategic support from NB, this growth investment recognizes Mariner’s exceptional position within the wealth management industry, supported by consistently strong net organic growth, advisor recruitment and retention, as well as industry-leading branding efforts. Following the investment, Bicknell will continue to hold majority control of Mariner’s board of directors. NB will receive board representation and LGP, which became Mariner’s first institutional capital partner in 2021, will continue to serve on the board.

Each of Mariner’s institutional capital partners further enhances its ability to execute against its aggressive growth goals, serving as a sounding board for new initiatives and adding value through strategic guidance. These relationships will allow Mariner to focus on driving forward its bold vision without compromising operational control or client service standards.

Ardea Partners LP served as exclusive financial advisor and Ropes & Gray LLP served as legal advisor to Mariner. Latham & Watkins LLP served as legal advisor to LGP. Cravath, Swaine & Moore LLP served as legal advisor to NB.

About Mariner

Mariner is a privately held national financial services firm equipped with the experience to meet your modern wealth needs. Our advisors have access to in-house expertise covering everything from tax, estate, trust, and insurance to investment banking and valuation, so they can maximize time spent creating unified wealth plans with clients. By opening more windows of wealth, we create opportunities to positively impact the lives of many. With this purpose, we intend to raise the bar for the entire industry. Founded in 2006 with $300 million in assets under advisement, Mariner and its affiliates now advise on over $245 billion in assets as of 6/30/24. Learn more at www.mariner.com.

About NB Capital Solutions

NB Capital Solutions provides bespoke capital solutions to private equity-owned companies, enabling sponsors and management teams to achieve long-term strategic objectives. NB Capital Solutions manages ~$8 billion in AUM and has made investments in over 90 companies across its three funds. NB Capital Solutions is part of the Neuberger Berman Private Markets platform, which is a leading global private equity investor with over 35 years of experience that has managed over $115 billion of commitments since inception through June 2024 across various private equity strategies. Its dedicated team of over 400 private markets professionals has a global presence with offices in the United States, Europe and Asia. Over time, our global team has evolved to work in a cohesive and integrated manner across our GP-centric strategies. For more information, please visit www.nbcapitalsolutions.com

About LGP

Leonard Green & Partners, L.P. (LGP) is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $70 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has completed over 150 investments in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on services, including consumer, healthcare, and business services, as well as distribution and industrials. For more information, please visit www.leonardgreen.com.

Mariner

Remi Yuter

RYuter@hotpaperlantern.com

NB Capital Solutions / Neuberger Berman Private Markets

Alex Samuelson

Alexander.samuelson@nb.com

Leonard Green & Partners, L.P. (LGP)

Leonard Green & Partners, L.P. (LGP)

communications@leonardgreen.com

https://www.mariner.com/

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