Greg Fleming, Rockefeller Capital Management president and CEO, announced the firm raised new funds from investment firms of ultra-rich families. The recapitalization valued Rockefeller at $6.6 billion, up from $3 billion in 2023. The Rockefeller family still owns a minority stake, with the transaction expected to close by the end of 2025.

New investors include Mousse Partners, Progeny 3, and Abrams Capital. Rockefeller plans to hire more advisors to reach more American business owners and tap into international wealth in Singapore and the Middle East. The firm has $187 billion in assets and serves clients with $25 million to $100 million in assets.

Negotiations for the financing began this past summer, with family offices providing patient capital for long-term investments. Mousse Partners, known for consumer bets like Beautycounter and The Row, sees wealth management as a growth business with stable fee-based revenue. Rockefeller is preparing for the great wealth transfer, with $124 trillion expected to be passed down by 2048.

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