Conshohocken’s Pitcairn, the ultra-high-net-worth family investment management company completed its first acquisition in its 102-year history, writes Jeff Blumenthal for the Philadelphia Business Journal.
The company purchased purchased Baltimore-based Brightside Partners.
Brightside brings six employees and $2.5 billion in client assets, increasing Pitcairn’s total advised assets to $9 billion.
CEO Andrew Busser, who took over in September 2023, emphasized Pitcairn’s focus on culture and full-service family office offerings rather than joining the private equity-driven M&A trend in wealth management.
Brightside, founded in 2019, specializes in private investment markets for wealthy families. Partner Justin Bakewell said joining Pitcairn provides broader resources and back-office support, making it easier to operate in a competitive market.
The acquisition, finalized on January 1, coincides with the launch of Pitcairn Wealth Advisors, a new RIA entity complementing its existing trust company.
Two months prior, the company moved its headquarters from Jenkintown to Conshohocken, signing a 10-year lease for a more efficient, tech-enhanced space. The new office model features unassigned workspaces, which Busser said employees have embraced.
Read more about Pitcairn’s acquisition of Brightside Partners in the Philadelphia Business Journal.
