National

Hybrid registered investment advisory firm Independent Financial Partners has added an Upstate New York-based five-person advisor team, managing more than $700 million in client assets from Commonwealth Financial Network.  IFP’s addition, CenterBridge Planning Group, which was founded in 2013, is led by Jeff McCabe, Pat Mahardy, Joe Lazzaro, Brent Schleicher, and Andy Burr. The firm’s transition to IFP marks one of its largest single-team transitions to date, the firm said.  CenterBridge Planning Group offers financial planning, ...

The House of Representatives has approved a wide-ranging capital formation package that would loosen the “accredited investor” rules, expand financing options for small businesses, and add safeguards for older investors. The centerpiece, the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act, passed with bipartisan support in a 302–123 vote and is intended to both ...

Greenwood Star Holdings has made its Greenwood Star Income & Growth Trust (GSREIT) available on the iCapital Marketplace platform, expanding distribution of its private multifamily REIT to a wider network of wealth managers. GSREIT targets higher-quality, income-producing apartment communities across the Southern U.S., leveraging Greenwood Star’s vertically integrated acquisition, management, and disposition capabilities.  By joining iCapital Marketplace, the firm is looking ...

Apollo Global Management and Capital Power have announced a $3 billion partnership to acquire merchant natural gas assets across the United States, marking one of the largest private-equity-backed energy tie-ups of the year. Affiliates of Apollo will contribute up to $2.25 billion in equity, while Capital Power will invest up to $750 million, taking a 25% to 50% working interest in each acquisition and serving ...