Lido Advisors is acquiring Pegasus Partners, a Wisconsin-based RIA with over $3 billion in AUM.
Located in Mequon, a suburb of Milwaukee, Pegasus specializes in family office services for ultrahigh-net-worth clients. The firm offers financial planning, wealth transfer guidance, and access to alternative investments, a model well-suited to Lido's client focus.
Ken Stern, President of Lido Advisors, emphasizes the value of Pegasus' approach. “Managing the sophisticated wealth needs of affluent families demands specialized expertise and a commitment to the highest ethical standards,” Stern says. “The Pegasus team embodies these qualities.”
Pegasus, which counts high-net-worth clients for approximately 86% of its AUM, also serves 171 non-high-net-worth retail clients, as well as a limited number of charitable and business clients, according to its latest Form ADV.
Lido Advisors, headquartered in Los Angeles, reported over $24 billion in AUM as of last month. Supported by Charlesbank Capital Partners, Lido recently sold a minority stake to Constellation Wealth Capital, a move signaling continued expansion. In discussions with Barron’s Advisor earlier this year, Stern highlighted Lido's strong acquisition pipeline.
With 15 offices across the U.S., Lido’s acquisition of Pegasus enhances its presence in the Midwest.
“The cultural alignment and expansion opportunities in the Midwest make Pegasus a natural fit for our strategic vision,” says Lido CEO Jason Ozur.
All 22 Pegasus team members, including advisors and support staff, will transition to Lido, with most assuming partnership roles, the firms confirm. The acquisition is expected to close shortly.
Pegasus CEO Todd Krieg notes that Lido’s service model complements his firm’s focus, particularly in offering clients access to alternative investments. “In Lido, we found a partner aligned with our mission of prioritizing client interests, offering deep investment expertise, and advancing wealth planning strategies,” Krieg says. “Together, we’ll continue enhancing the services we provide to families, foundations, and institutions.”
