INVESTCORP takes majority stake in Berger Financial Group

Investcorp takes a majority stake in Berger Financial Group, a US-based RIA in Minnesota, marking its entry into the North American wealth management sector. The transaction, announced in July 2026, concludes Investcorp's multi-year search for a wealth management platform that it could scale through RIA acquisitions and organic growth. The strategic logic rests on structural market trends: aging demographics, generational wealth transfer, rising financial complexity, and migration toward fee-based fiduciary advice. Berger represents the ideal platform for Investcorp: a differentiated business with exceptional client and advisor retention, and significant value creation potential in a large, fragmented market. Berger's management team, including CEO Nick Asmus, along with approximately thirty financial advisors, retain a significant ownership stake alongside Investcorp. Investcorp obtains a seat on Berger's board, while current leadership continues to manage day-to-day operations. This partnership structure enables Berger to benefit from Investcorp's sector expertise and network while preserving its planning-first model and established client relationships. The transaction positions Investcorp to accelerate consolidation in the North American RIA sector.