Summary of Article: New PE firm Coalesce Capital held talks to buy $11bn Snowden Lane

TLDR:

– Private equity firm Coalesce Capital and $11bn Snowden Lane Partners held talks about a possible acquisition of the New York City-based hybrid RIA.

– Talks ultimately fell through and Snowden Lane’s investment bank, Ardea Partners, is now pursuing a new potential buyer.

Private equity firm Coalesce Capital and $11bn Snowden Lane Partners were in discussions for a potential acquisition of the New York City-based hybrid RIA, as per a source familiar with the situation. Despite the talks, an agreement could not be reached and Snowden Lane’s investment bank, Ardea Partners, is now looking for a new buyer for the company. When contacted for a statement, both Snowden Lane and Coalesce Capital declined to comment on the matter. The failed acquisition sheds light on the complexities involved in deal negotiations and the need for alignment between parties to successfully finalize such transactions.